Jindal Supreme India IPO oversubscribed 31.50 times worth about ₹125cr
Business
Jindal Supreme India's IPO is getting a ton of attention: it's been oversubscribed by 31.50 times as of Thursday.
Shares are priced between ₹88-93, and the IPO is worth about ₹125 crore at the upper end and comprises a fresh issue plus an offer-for-sale by promoter group entity VVJ Enterprise Pvt Ltd.
Retail investors subscribe 39.74 times quota
Retail investors are especially keen, subscribing 39.74 times their quota, with non-institutional investors close behind at 37.60 times.
Even big institutional buyers joined in with strong interest.
The funds will help Jindal Supreme pay off debts and handle other business needs.
The shares are set to list on BSE and NSE on September 23.