Antala Industries IPO oversubscribed 12.2 times before BSE SME listing
Antala Industries's IPO just wrapped up with huge buzz: it was oversubscribed 12.2 times, meaning way more people wanted in than there were shares available.
Over six days, investors put in bids for 42.4 million shares while only 3.482 million were up for grabs.
Shares will start trading on the BSE SME platform from November 11, and allotment is expected to finish by November 6.
Institutional investors subscribed 66.72 times
Most of the excitement came from big institutional investors (QIBs), who went all in and subscribed to their portion 66.72 times over.
Non-institutional and retail investors weren't far behind either, subscribing 37.38 times and 5.22 times, respectively.
The company plans to use the ₹229.8 million raised for things like working capital and new machinery, with Vatsa Capital Venture handling the process as merchant banker.