Priority Jewels is set to finalise the basis of allotment for its Rs 91.5-crore initial public offering (IPO) today, September 2, after the issue received an overwhelming response from investors during the bidding period.
The IPO was subscribed 100.45 times by the close of bidding on September 1, according to NSE data. Investors placed bids for 32,16,86,025 equity shares against 32,02,500 shares on offer. The Non-Institutional Investors (NIIs) category led the demand with 166.49 times subscription, followed by Retail Individual Investors (RIIs) at 106.76 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 39.87 times.
The IPO opened for subscription on August 28 and closed on September 1. Priority Jewels has fixed the price band at Rs 190 to Rs 200 per equity share. The issue comprises entirely a fresh issue of 45.75 lakh shares. The shares are scheduled to list on the BSE and NSE on September 4. For more upcoming IPO visit our website Apollo Trust Research Services.
