Godrej Agrovet Limited – Subscribed over 95 times

The issue from Godrej Agrovet Limited received excellent support and was subscribed 95.41 times. The company had tapped the capital markets with its simultaneous offer.
godrej-agrovetThe issue had a fresh issue component of Rs 291.51 crs, an offer for sale by Godrej Industries of Rs 300 crs and an offer for sale by the PE investor of 1.23 cr shares. The price band was Rs 450-460, The issue had opened on Wednesday the 4th of October and closed on Friday the 6th of October.

Earlier the company had allotted 74,17,254 equity shares to 25 anchor investors comprising of 32 entities.

The issue saw subscription in the QIB category of 150.96 times, HNI 236.04 times and Retail 7.67 times. The issue received 14.75 lakh applications and on basis of lot was subscribed 5.45 times. Ths subscription by retail should be termed as excellent as most members of a large investor community did not apply because the company deals with non-vegetarian products.

Full details of the subscription is given below:-

Bucket Size Shares Applied for Times Oversubscribed
QIB 5082882 767295360 150.96
HNI 3750042 885164480 236.04
Retail 8750096 67117664 7.67
Employee Reservation 444444 373312 0.84
Total 18027464 1719950816 95.41
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