The offer for sale from Endurance Technologies Limited excellent response and was subscribed 43.84 times. The company had tapped the capital markets with its offer for sale of 2.46 cr shares in a price band of Rs 467-472. The company had allotted 73.83 lac shares to 24 anchor investors comprising of 38 entities.
The response from QIB’s saw the portion being subscribed 53.43 times and HNI’s 127.07 times. The cost of funding considering 4.5% for seven days works out to Rs 52. Even if one considers an interest rate of 4.75% the interest cost moves up Rs 54.50 giving them an edge as per grey market premium. The retail portion was subscribed 2.23 times. The total number of applications received was 6.41 lakhs which was 2.23 times retail subscription based on number of applications. The retail response was somewhat muted on account of poor listing of some of the recent IPO’s. Retail investors are stuck with shares and not able to sell on listing which is what is normally done by most retail and all HNI investors.

The offer for sale from Endurance Technologies Limited saw it completing its allocation to anchor investors. The company through the offer for sale of 2.46 cr shares in a price band of Rs 467-472 is tapping the markets between Wednesday the 5th of October and Friday the 7th of October. The company has allotted 73,83,906 equity shares to 24 anchor investors comprising of 38 entities. There are 10 local mutual funds confirming the widespread interest in the auto ancillary company.
The full list of anchor allotment is appended below: –