Watch retailer Ethos IPO fully subscribed on last day
Monday, 23 May 2022
NEW DELHI, May 22 (NDTV): The initial public offer of luxury and premium watch retail player Ethos got fully subscribed on Friday's last day of subscription.
According to NSE data, the Rs 4.72 billion IPO received bids for 41,38,650 shares against 39,79,957 shares on offer, translating into 1.04 times subscription.
The portion for non-institutional investors received 1.48 times subscription, while the category for Qualified Institutional Buyers (QIBs) got subscribed 1.06 times and Retail Individual Investors (RIIs) 84 per cent.
The Initial Public Offer (IPO) had a fresh issue of equity shares aggregating to Rs 3.75 billion and an offer for sale of up to 11,08,037 equity shares.
The price range for the offer was Rs 836-878 per share.
Proceeds from the fresh issuance will be utilised for repayment of the debt, funding working capital requirements, opening new stores and general corporate purposes.