New Delhi, Oct 26 (PTI) The initial public offering of EAAA India Alternatives Ltd, an arm of Edelweiss Financial Services, was subscribed 11 per cent on the first day of bidding on Monday.
The IPO received bids for 5,89,347 shares against 52,99,684 shares on offer, as per the NSE data.
The non-institutional investors’ category received 32 per cent subscription, while the quota for Qualified Institutional Buyers (QIBs) was subscribed 8 per cent. The retail portion was booked 4 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 SHM
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