SS Retail IPO Subscription Status Day 1: Issue Subscribed 30% So Far, Retail at 52%
Add Preferred News Source
SS Retail IPO Subscription Status: The issue opened for bidding on September 16 and was subscribed 30% as of 11:00 am, according to NSE data, with the retail portion leading at 52% while NII stood at 26%.
SS Retail's IPO had attracted bids for nearly one-third of the shares available to public investors by 11:00 am on September 16, with the issue subscribed 0.30 times, according to NSE data. Retail investors accounted for the bulk of the early demand, with their reserved portion subscribed 0.52 times, while the NII segment stood at 0.26 times.
The Rs 500-crore share sale opened on Wednesday and will close on September 18. By 11:00 am, investors had placed bids for 26,84,080 shares against 87,93,884 shares on offer. The IPO has a price band of Rs 403-424 a share and consists of a Rs 360-crore fresh issue and a Rs 140-crore offer-for-sale component.
SS Retail had already raised Rs 146.4 crore from anchor investors before the issue opened, with 34.52 lakh shares allotted to 14 institutional investors at the upper price of Rs 424 a share. The company plans to use a substantial part of the fresh capital for working capital, while a portion will go towards store expansion and general corporate purposes.
The issue is being managed by Anand Rathi Advisors and Emkay Global Financial Services. SS Retail shares are scheduled to list on the NSE and BSE on September 23, subject to completion of the IPO process.
Subscription Status Day 1
The following subscription figures are as of 11:00 am on September 16, according to NSE data.
Day 1 | To be updated | 52% | 26% | 30% |
Bidding Details
The following bidding data is as of 11:00 am on September 16, according to NSE data. Category-wise shares offered were not provided.
QIB | To be updated | To be updated |
Retail | To be updated | To be updated |
NII | To be updated | To be updated |
Total | 87,93,884 | 26,84,080 |
Subscription Rate
The subscription rates below are as of 11:00 am on September 16, according to NSE data.
QIB | To be updated |
Retail | 52% |
NII | 26% |
Total | 30% |
Book Running Lead Managers
Anand Rathi Advisors and Emkay Global Financial Services are the book-running lead managers for the SS Retail IPO.
SS Retail's IPO will remain open for bidding through September 18. Investors will continue to track participation across the QIB, retail and NII categories as the issue moves into its second bidding day, with allotment and listing to follow the completion of the IPO process.
Also Read - Defence Stocks Fall For 5th Straight Session; Nifty India Defence Index Down 1% In Early Trade
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
Right Tools, Rich Insights
