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Shringar House of Mangalsutra IPO Sees Strong Retail and HNI Demand
Shringar House of Mangalsutra IPO Sees Strong Retail and HNI Demand
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BTCCSquare news:
The ₹400.95-crore IPO of Shringar House of Mangalsutra was oversubscribed two times on its first day, driven by aggressive bidding from retail investors and high net worth individuals. The fresh issue of 2.43 crore shares, priced at ₹155–165 per share, will close on Friday. Retail investors subscribed 2.83 times their allotted quota, while HNIs bid 2.70 times. Qualified institutional buyers have yet to participate, but the employee quota saw a 9-times subscription.
Anchor investors contributed ₹120.19 crore, with shares allocated at ₹165 each to institutions including Kotak Mahindra Life Insurance and Societe Generale. The book-building process reserves 50% for QIBs, 15% for non-institutional bidders, and 35% for retail investors.
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