Ravi Kumar Distilleries Limited which had tapped the capital markets with its IPO in a price band of Rs 56 – 64 was subscribed. The issue was subscribed 2.22 times. HNI’s and retail subscription was the driver to the success of the IPO and helped in the overall subscription while the QIB portion was under subscribed and was a mere 0.15 times of its segment.
The details of the subscription level in various categories are given below: –
| Category | Shares Offered | Shares Subscribed | Times |
| QIB | 5750000 | 840600 | 0.15 |
| NII | 1725000 | 12607100 | 7.31 |
| Retail | 4025000 | 12111500 | 3.01 |
| Overall | 11500000 | 25559200 | 2.22 |
The issue is subscribed and it would be interesting how the share fares post listing as there were no fundamentals as far as the asking price was concerned.
