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7h ago

Euro Pratik Sales IPO Closes 1.34x Subscribed Ahead of Sept. 23 Listing

The offer-for-sale drew the strongest demand from non-institutional investors as grey market cues softened before allotment on Sept. 19.

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Overview

  • Overall bids reached 1.34 times the shares on offer on Sept. 18, with NIIs at 1.92x, RIIs at 1.23x, and QIBs at 1.05x, according to NSE data.
  • The Rs 451.31 crore issue is entirely an offer-for-sale of about 1.83 crore shares, so proceeds go to selling shareholders rather than the company.
  • The price band was set at Rs 235–247 per share with a minimum lot of 60 shares for applicants.
  • Euro Pratik Sales raised about Rs 135 crore from 10 anchor investors at Rs 247 apiece ahead of the offer.
  • Unofficial grey market indications hovered near Rs 5 during bidding and later eased to about Re 1, signalling muted listing expectations before a tentative Sept. 23 debut.