Nuvoco Vistas IPO Subscription Day 3
The Rs.5,000 crore IPO of Nuvoco Vistas, consisting of Rs.1,500 crore fresh issue and Rs.3,500 crore OFS, was just about subscribed on Day-3, with support from the QIBs. As per the combined bid details put out by BSE, Nuvoco Vistas IPO was subscribed 1.71X overall, with robust demand only visible in the QIB segment. The issue has closed on 11th August.
In terms of numbers, out of the 625.00 lakh shares on offer in the IPO, Nuvoco Vistas saw applications for 1,070.27 lakh shares at close of Day-3. This implies an overall subscription of 1.71X. The granular break-up is tilted in favour of QIBs.
Nuvoco Vistas IPO Subscription Day-3
|Qualified Institutional (QIB)||4.23 Times|
|Non-Institutional (NII)||0.66 Times|
|Retail Individual||0.73 Times|
The QIB portion saved the day on the last day of the IPO. On 06 Aug, Nuvoco Vistas did an anchor placement worth Rs.1,500 crore. QIB portion, net of anchor allocation, was subscribed 4.23X (getting applications for 754.93 lakh shares against the available quota of 178.57 lakh shares) at the close of Day-3.
The HNI portion got subscribed just 0.66X (getting applications for 88.69 lakh shares against the quota of 133.93 lakh shares). Funded applications and corporate applications remained tepid even on the last day.
The retail portion got subscribed just 0.73X at the close of Day-3, showing limited retail appetite. Out of the 312.50 lakh shares on offer, valid bids were received for 226.65 lakh shares, of which bids for 178.41 lakh shares were at the cut-off price. The IPO was priced in the band of (Rs.560-Rs.570) and has closed for subscription on Wednesday, 11th August.
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