Which is the highest subscribed IPO so far in India?

Here are the details of the company with highest IPO subscriptions in India so far and information on the other high subscribed companies.

India is on its way to witness the maximum number of IPOs so far. Companies go for IPO subscriptions to raise a large amount of money from the public. This trend has increased considerably in the last year amid pandemic, due to its effects on the market and also because of the greater performance of the share market. As more and more companies are opting for IPOs, it is interesting to know who are the ones getting high subscriptions.

Let’s find out which is the highest subscribed IPO in India so far:-

 

Paras Defence & Space Technologies Limited

 

The IPO of Paras was subscribed 303.56 times till 4.02 pm of the third and final day. As it has already crossed 300, it is safe to say that Paras defense is the highest subscribed IPO in India now. The company was opened for subscription on September 21, 2021, and closed today, on September 23, 2021. It became the highest subscribed IPO of India with 303.56 times subscription. According to the BSE data, the Qualified Institutional Buyer (QIB) category was subscribed 169.65 times, Non Institutional Investor (NII) category was subscribed 927.70 times and the Retail subscription was subscribed111.42 times.

The price band of the initial share was fixed at ₹165 to ₹175 per equity share. Bidders had to apply in lots where a single lot consisted of 85 shares. A single bidder was not allowed to apply for more than 13 lots. That means, the minimum investment limit of a single bidder is Rs.175× 85, that is Rs. 14875, and the maximum investment limit of a single bidder is Rs.175×85×13, that is Rs.193375.

The tentative date of allotment of shares, as declared by the company, is 28th September 2021. The date of listing of share is 1st October, 2021. It will be listed at NSE (National Stock Exchange) as well as BSE (Bombay Stock Exchange). After that, promoters’ shareholding in Paras Defense will decrease from existing 79.40 per cent to 59.71 per cent.

This company offers products in 5 different categories namely Defence & Space Optics, Defence Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions, and Niche Technologies. In Maharashtra, Paras has 2 manufacturing plants. It is also on its way to open a manufacturing unit at Nerul in Navi Mumbai. Paras Defense and Space Technologies Limited has a target to collect Rs. 171 crore from IPO subscriptions. The shares of this company are available at around the premium of Rs. 230 in the grey market today. It is nearly the same as yesterday.

Other High Subscriptions in IPOs (basis of multiples)

Here are the other companies who get considerably high subscriptions after Paras Defense.

Salasar Techno has a subscription of 273.05 times. It is followed by Apollo Micro with 248.5 times IPO subscription, Astron Paper with 241.8 times IPO subscription, Bectors with 198 times IPO subscription, and Capacite with 183 times IPO subscription. Ujjivan SFB and Amber has 165.7 times and 165.4 times IPO subscriptions respectively.

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