QIBs rescue Godrej Properties IPO

The Initial Public Offering (IPO) of Godrej Properties Limited has received subscription of 4 times with more than 95% of the bids from Qualified Institutional Buyers (QIBs). The QIB portion of the issue has received subscription of 7.4494 times.

The QIB portion of the issue has received bids for 29503552 equity shares against the offer of 3960505 equity shares. The total issue size was 7732405 equity shares.

Under Qualified Institutional Buyers (QIBs) portion, Mutual Funds were the top subscribers with bids for 12083526 equity shares followed by Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) with bids for 11486774 equity shares and Foreign Institutional Investors (FIIs) bid for 5933252 equity shares.

Most of the recent IPOs have been rescued by Qualified Institutional Buyers (QIBs) mainly insurance companies and banks.

Source : Equity Bulls

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