SJVN Limited which had tapped the capital markets with an offer for sale of 41.5 crs shares in a price band of Rs 23-26 received excellent response. The issue also had a discount of 5% for retail investors. The issue was subscribed an overall of 6.64 times.
This kind of response in a government issue has been seen after a long time and the response is a direct reflection of the fact that pricing is the key for the success of the IPO. If there is money on the table and a small discount given to retail investors, certainly they would flock to the issue.
Details of the subscription to the issue: –
| Category | Shares offered | Shares Bid | Subscription Ratio |
| QIB | 246990000 | 2229445750 | 9.0265 |
| NII | 41165000 | 139437000 | 3.3873 |
| Retail | 123495000 | 384816250 | 3.1160 |
| Employee | 3350000 | 825000 | 0.2463 |
| TOTAL | 415000000 | 2754524000 | 6.64 |
There are over 1.9 lakh retail applications in the IPO.
