The Initial Public Offer (IPO) of Usha Financial Services was oversubscribed by 19.37 times on the final day of the bidding process, according to a statement from the company.
The IPO, which looked to raise Rs 98.40 crore, received bids for 751.10 lakh equity shares against 38.78 lakh shares on offer, the statement said.
Further, the statement mentioned that the category reserved for the retail investor segment was booked 20.76 times, while the Non-Institutional Investors (NII) category was subscribed 28.55 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 10.04 times.
The finalisation of the basis of allotment for Usha Financial Service’s IPO is scheduled for 29th October, 2024. Refunds will be initiated, and equity shares will be credited to investors’ accounts on 30th October, 2024, with the company’s listing on the National Stock Exchange (NSE) SME set for 31st October, 2024, the statement concluded.