The offer for sale for 2,54,57,555 shares received overwhelming response and created a new demand in terms of number of applications. The issue was oversubscribed 83.06 times and received 25.30 lac forms. This number was far greater than the 20.75 lac applications received in the issue of Cochin Shipyard which was the previous record. A point to be noted here is that PSU issues offer a discount to retail investors which does bring in some more forms.

The company had earlier allotted 66,53,265 equity shares to 35 anchor investors comprising of 61 entities at Rs 1,100. The price band was Rs 1095-1100. The issue was subscribed 192.26 times by QIB’s, 195.15 times by HNI’s and 6.73 times by retail. As mentioned earlier there were 20.75 lakh applications. The employee quota was subscribed 1.52 times. Shareholder quota was subscribed 2.69 times.

The issue garnered subscription worth 1.72 lakh crs and sets a record. The demand was so high that interest rates for the leveraged investor which used to be around the 5-5.5% levels have shot up to around 10% for this issue. The indicative grey market premium of over Rs 600 does allow the leveraged investor to make more than a decent gain currently.

The full list of application made bucket wise is given below: –