Reliance Nippon Life Asset Management Limited which had tapped the capital markets with its offer for sale of 6.12 cr shares in a price band of Rs 247-252 was subscribed 81.54 times.
The issue was subscribed 118.40 times by QIB investors, 209.44 times by HNI Investors and was subscribed 5.65 times by retail investors. There were 16.37 lakh applications and the same on basis of lots was subscribed 4.51 times.

The cost of funding for the leveraged HNI would be between Rs 55-56. Rs ompleted allocation to anchor investors. Earlier the company had allotted 1,83,60,000 shares to 35 anchor investors at Rs 252.

The highest allocation was made to BNP Paribas Arbitrage fund of 2063 lakhs which amounts to 11.24% of the anchor allotment.

Full details of the subscription bucket wise is given below:-

Reliance Nippon Life Asset Management Limited which is tapping the capital markets with its offer for sale of 6.12 cr shares in a price band of Rs 247-252 completed allocation to anchor investors. The company allotted 1,83,60,000 shares to 35 anchor investors at Rs 252.

The highest allocation was made to BNP Paribas Arbitrage fund of 2063 lakhs which amounts to 11.24% of the anchor allotment.

The full list of anchor allotment with names and allotment is give below:-

Shares of IEX Limited listed on the bourses and had a lacklustre listing. The company had through an offer for sale offered 60,65,009 shares in a price band of Rs 1645-1650. It had allotted 18,19,501 equity shares to 25 anchor investors comprising of 28 entities. This was reduced and had to be reallocated without the FPI’s to 7,89,120 equity shares to 11 anchor investors comprising of 16 entities. The issue received mixed response post the FPI incident and was subscribed 2.28 times with QIB Portion subscribed 2.56 times, HNI undersubscribed at 0.85 times and Retail subscribed 2.61 times.

The issue listed at Rs 1,500 on both the exchanges which was also the low of the day. The high was Rs 1,658 on the BSE and Rs 1,660 on the NSE. The share closed at Rs 1,626.45 on BSE and Rs 1,629.15 on the NSE. The net loss on BSE was Rs 23.55 or 1.43% while it was Rs 20.85 or 1.26% on the NSE. The traded volume was 39,51,102 shares which was 65.15% of the IPO size and almost 75% considering only the non-anchor portion. The delivery percentage was 28.76% of the traded volume and 18.74% of the IPO size. Weighted average was 1620.34 and 1614.22 which was below the close of the day.

All in all a tepid listing and very clearly the controversy about FPI’s allowed to invest had killed all interest in the stock.