Ravita Engineering Services IPO oversubscribed 6.68x, plans to raise 116.05cr
Business
Ravita Engineering Services's IPO wrapped up with big buzz, getting subscribed 6.68 times over on the final day, so there was far more demand than available shares.
The company aimed to raise ₹116.05 crore by offering shares priced between ₹105 and ₹112 each.
Ravita Engineering Services listing Oct 22
Qualified institutional buyers (QIBs) subscribed 13.19 times, while non-institutional and retail folks also showed strong interest.
If you applied, allotment results are expected by October 19, and the stock is set to list on NSE Emerge on October 22.
Ravita plans to use most of the funds for working capital and heavy equipment, with a small premium already showing up in gray market trades.