Arcil IPO fully subscribed with retail investors leading demand
Business
Arcil's IPO remained open today with strong demand: bids came in for 4,17,98,694 shares, topping the 3,69,12,363 shares on offer and making the issue fully subscribed.
Backed by Avenue Capital Group and SBI, this offer for sale saw retail investors leading the charge.
Arcil raised ₹219.89 cr
Retail investors were especially active, subscribing 1.55 times their allotted shares, while noninstitutional buyers weren't far behind at 1.45 times.
Before the main event, Arcil raised ₹219.89 crore from big names like Goldman Sachs and White Oak Capital through its anchor book.
Shares even traded at a 10.07% premium in the gray market, so yeah, investor excitement was real!