InvestorQ : How were the subscription numbers for Harsha Engineers IPO at close of third day?
Katherine Gonsalves made post

How were the subscription numbers for Harsha Engineers IPO at close of third day?

rhea Babu answered.
3 weeks ago

The Rs.755 crore IPO of Harsha Engineers closed Day-3 with overall subscription of 74.65X overall. As of the close of 16th September 2022, out of the 168.64 lakh shares on offer in the IPO, Harsha Engineers saw bids for 12,588.38 lakh shares. This translates into an overall subscription of 74.65 times. QIBs dominated the show followed by the HNIs and the retail investors to a smaller extent. QIB bids and NII bids normally gather the momentum on the last day, and that is what we saw in this issue too. Here are more details.

On the QIB portion, there was an anchor allotment done on 13th September 2022, of 68,40,855 shares at the upper price band of Rs.330. The total allocation to 23 anchor investors was worth Rs.225.75 crore and the QIB portion was reduced to that extent. Net of anchor allocation, QIB portion had a quota of 47.93 lakh shares for which it got bids for 8,543.74 lakh shares at the close of Day-3, getting subscribed 178.26 times on QIB portion. However, institutional appetite was already evident from anchor issue itself.

The HNI portion got subscribed 71.31 times (getting applications for 2,563.39 lakh shares against the available quota of 35.95 lakh shares). Retail portion was subscribed 17.53 times at close of Day-3. Out of 83.88 lakh shares on offer in retail quota, valid bids were received for 1,470.67 lakh shares, which included bids for 1,246.50 lakh shares at the cut-off price.