New Delhi, Oct 27 (PTI) The initial public offer of EAAA India Alternatives Ltd, an arm of Edelweiss Financial Services, was subscribed 33 per cent on the second day of bidding on Tuesday.
The IPO received bids for 17,47,548 shares against 52,99,684 shares on offer, according to data available with the NSE.
The portion for non-institutional investors received 69 per cent subscription, and the quota for qualified institutional buyers (QIBs) was subscribed 45 per cent. The category for retail investors was subscribed 11 per cent.
EAAA India Alternatives Ltd has raised around Rs 360 crore from anchor investors.
The public issue will close on October 28. The company has fixed the IPO price band at Rs 1,585-1,665 per share, valuing it at Rs 10,765 crore
at the upper limit.
The IPO is entirely an offer-for-sale (OFS) by the Edelweiss Group, with no fresh issue component. Consequently, EAAA India Alternatives will not receive any proceeds from the offering; the selling shareholder will get the entire amount.
The issue size has been reduced to Rs 1,200 crore from the Rs 1,500 crore proposed in the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi) in January.
Shares of the firm are expected to be listed on the BSE and NSE on November 2.
Incorporated in 2008, EAAA India Alternatives is an alternative investment platform managing long-term capital across asset classes, including infrastructure, commercial real estate and private credit. The company operates across Mumbai, Delhi, GIFT City and Singapore. PTI SUM SUM BAL
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