GNG Electronics Ltd.’s preliminary public providing was subscribed 147.93 instances on its third day of subscription on Friday. The corporate was seeking to elevate as much as Rs 460 crore.
The corporate, which operates below the model Electronics Bazaar, provided shares within the vary of Rs 225-237 apiece. The IPO consisted of a contemporary difficulty of shares price Rs 400 crore and a suggestion on the market of as much as 25.5 lakh shares amounting to Rs 60 crore. The market worth of GNG Electronics on the higher finish of the value band is Rs 2,702 crore.
The IPO share allotment can be finalised by July 28. Shares of GNG Electronics will debut on the BSE and NSE on July 30.
Motilal Oswal Funding Advisors Ltd., IIFL Capital Companies Ltd. and JM Monetary Ltd. are the e book working lead managers for the IPO.
GNG Electronics raised Rs 138 crore from anchor buyers on Tuesday forward of its preliminary public providing. The buyers embrace Motilal Oswal, Mirae Asset, Edelweiss, and Goldman Sachs.
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