MT Educare Limited which had tapped the capital markets with its IPO which included an offer for sale and a fresh issue was subscribed. The offer for sale was for 80 lakh shares and the fresh issue was for Rs 35 crs in a price band of Rs 74-80. The company had allotted 17,37,914 shares to anchor investors at the lower end of the price band. The overall issue was subscribed 4.8 times with excellent response coming from HNI’s and then QIB’s.

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

The issue has done reasonably well considering that the general perception about the pricing of the issue was that it was overpriced. The issue would be priced at the top end of the price band and anchor investors would have to pay the difference between the allotment price and thee bid price.