Total subscription 0.97 times

A2Z Maintenance Engineering Services Limited which had tapped the capital markets with its IPO to raise Rs 675 crs and an offer for sale of 45,56,193 in a price band of Rs 400-410, failed to get fully subscribed. The issue was finally subscribed 0.97 times.

The issue consisted of a fresh issue and an offer for sale. It was also mentioned in the RHP that in case the issue did not manage to garner adequate response, any shortfall would be reduced from the offer for sale. Effectively this means that the issue is subscribed and the shortfall gets offset from the offer for sale.

The data given below shows the level of subscription received in each category. There appears to be substantial withdrawal in the HNI category which was subscribed almost 5 times before ending at 3.12 times. Retail subscription has been poor.

The details of the subscription level in various categories are given below: –