Advance Agrolife IPO Ends With 56.85x Subscription Ahead of Oct. 8 Listing

Overview

• The share sale drew bids for 768,036,900 shares against 13,509,004 on offer, with NIIs at 175.30x, QIBs at 27.31x, and retail at 23.06x.
• The book-built issue totals about Rs 193 crore via a fresh issue of 1.93 crore shares in a Rs 95–100 price band.
• Allotment is slated for Oct. 6, shares are due to be credited and refunds processed on Oct. 7, and listing on the BSE and NSE is scheduled for Oct. 8.
• The grey market premium was reported at Rs 15 on Oct. 3, indicating an informal expectation of around Rs 115 per share at listing.
• Proceeds include Rs 135 crore earmarked for working capital with the balance for general corporate purposes; Choice Capital Advisors is the lead manager and KFin Technologies the registrar.