Gandhar Oil Refinery India

The IPO of speciality oils and lubricant manufacturer also managed to garner good response from investors despite strong demand for Tata Tech shares. The shares were offered at a price band of ₹160-169 apiece and the lot size was ₹88 shares and thereafter.

The ₹500 crore public issue of the leading manufacturer of white oils was subscribed 64.07 times on the final day of bidding, led by qualified institutional buyers as the quota booked for them received 129 times bids. The portion set aside for high net-worth individuals was subscribed 62.2 times and that of retail investors by 28.95 times.

IREDA

The ₹2,150-crore IPO of the PSU company, the first by a government-owned entity since LIC in May last year, also witnessed a robust response from investors.

The issue, having a price band of ₹30-32 per share, was subscribed 38.8 times on November 23, the final day of bidding, as investors bid for 1,827 crore equity shares against the offer size of 47.09 crore. Segment-wise, the quota for QIBs, NIIs, and retail investors was booked 104.57 times, 24.16 times, and 7.73 times, respectively. The Mini-Ratna PSU, which had set aside 18.75 lakh shares for its employees, received 9.8 times bids for this portion.

Flair Writing

The ₹593 crore public issue of pen maker also received a good response from investors as the issue was subscribed 46.8 times on the last day of its IPO. The issue, having a price range of ₹288 to ₹304 per share, received 122 times bids from QIBs, while the part reserved for NIIs and retail investors was subscribed 35.2 times and 13.7 times, respectively.

Fedbank Financial Services

The public issue of retail-focused non-banking finance company (NBFC) promoted by Federal Bank was subscribed 2.2 times on the final day of bidding, November 24. The QIB category of the ₹1,092 crore IPO, which was offered at a price band of ₹133 to ₹140 per equity share, was subscribed the most at 3.48 times, followed by 1.49 times in the institutional portion. The quota reserved for employees was subscribed 1.88 times.

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