At the end of the last day of the bidding process on Tuesday, Fino Payments Bank was subscribed 2.03 times.
Stock exchange data shows that at 5.30 pm, the issue attracted bids for 23.25 million shares against the issue size of 11.46 million shares, excluding anchor allotment.
The IPO had received a weak response in the first two days amid analysts’ view of increased valuations.
The data shows that the institutional investor category received bids for 10.24 shares and the book was subscribed 1.65 times.
The non-institutional category with high net worth was subscribed only 0.21 times. Demand for retail individual investors, whose investments cannot be high ₹2 lakh in an IPO, was 5.92 times.
Meanwhile, PB Fintech Ltd manages to get fully subscribed on the second day. The total IPO got subscribed 1.71 times. Retail applied 2.12 times while institutional investors subscribed 2.3 times. High net worth investors subscribed to just 24%.
SJS Enterprises failed to attract investors on the second day. Retail investors subscribed 1 time. High net worth investors applied only 6% while QIBs are yet to place orders for the issue.
Sigachi Industries got more than 23 times subscription on the second day. Retail investors subscribed more than 38 times, while HNIs applied 17 times. QIB subscribed 82%.
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