SJS Enterprises Ltd IPO - Subscription Day 3

QIB Portion

The QIB portion of the IPO saw 1.42X subscription at the close of Day-3. On 29th October, SJS Enterprises Ltd did an anchor placement of 44,28,023 lakh shares at the upper end of the price band of Rs.542 to 18 anchor investors raising Rs.240 crore.

The list of QIB investors including a number of marquee names like Tara Emerging Asia, Societe Generale, Nomura, Goldman Sachs, Citigroup, Axis MF, Franklin Templeton MF, Aditya Birla Sun Life Insurance, Edelweiss, Avendus; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 30.13 lakh shares of which it has got bids for 42.71 lakh shares as of the close of Day-3 of the IPO. QIB bids typically get bunched on the last day, but anchor response had hinted at a much better response for the IPO.

HNI / NII Portion

The HNI portion of the SJS Enterprises IPO got subscribed 2.32X (getting applications for 52.35 lakh shares against the quota of 22.60 lakh shares). This is a decent response at the close of Day-3 and this segment normally sees response on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day. 

Retail Individuals

The retail portion was subscribed 1.38X at the close of Day-3, showing mediocre retail appetite. Retail allocation for this IPO is 35% of the offer size. For retail investors; out of the 52.73 lakh shares on offer, valid bids were received for 72.92 lakh shares, which included bids for 57.90 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.531 – Rs542) has closed for subscription on 03rd November 2021.

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