Retail investors fuel Jindal Supreme IPO 7.53x oversubscription day 1
Business
Jindal Supreme India Ltd.'s IPO kicked off with a bang, getting oversubscribed 7.53 times on day one.
Retail investors led the charge, snapping up 11.59 times their allotted shares, while noninstitutional buyers and big institutional players also showed strong interest.
Jindal Supreme may raise ₹100 cr
The funds raised will help Jindal Supreme pay off debts and support general business needs.
If all goes as planned, shares will start trading on BSE and NSE from September 23.
The fresh issue could bring in nearly ₹100 crore, with Sarthi Capital Advisors managing the process.