The offer for sale from Varroc Engineering Limited was subscribed 3.59 times. The company had tapped the capital markets with its offer for sale of 2,02,21,770 equity shares in a price band of Rs 965-967. It had completed allocation to anchor investors who were allotted 60,36,518 shares. Twenty anchor investors comprising of 30 entities were allotted the shares. The highest allocation was made to Smallcap World Fund who was allotted 10,34,130 equity shares which is 17.1% of the anchor allocation.

The issue had opened on Tuesday the 26th of June and closed on Thursday the 28th of June. The subscription appeared quite muted. A possible reason to attribute for the same was probably the fact that the closing day of the issue was June futures expiry and they ended on a very negative day. The second reason that could be attributed was the valuations.

The issue was subscribed 9.16 times by QIB’s, 2.45 times by HNI’s and 0.95 times by Retail investors. The Employee portion of one lac shares remained undersubscribed at 0.65 times.

The full detail of subscription is given below :-