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The ₹755-crore initial public offering (IPO) of Harsha Engineers International was subscribed 74.7 times on Friday – the final day of bidding. The issue received bids for 125.97 crore shares against the 1.69 shares on offer, according to the stock exchanges data. This the strongest response to an IPO from investors so far in 2022.
In 2022 so far, the ₹562-crore IPO of Dreamfolks Services was subscribed 57 times, while the ₹1,400-crore IPO of Campus Activewear was subscribed 52 times. The qualified institutional buyer portion was subscribed 178.26 times, while the portion reserved for non-institutional investors witnessed a subscription of 71.32 times. The retail investors’ portion was subscribed 17.63 times.
The IPO was a mix of a fresh issue of shares aggregating to ₹455 crore and an offer for sale of up to ₹300 crore. On Tuesday, the company raised ₹226 crore from anchor investors ahead of its public issue by allotting 68.41 lakhs shares to institutions.
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