Usha Financial Services’s Initial Public Offering (IPO) received an overwhelming response with the subscription of 3.33 times on second day of bidding till 5.19 PM, a statement from the company notified.
It said that the IPO received bids for 129.04 lakhs equity shares against 38.78 lakh shares on offer.
The retail investor segment was booked 4.65 times, while the Non-Institutional Investors (NII) category was subscribed 3.25 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 1.07 times by then, added the statement.
It also mentioned that the IPO’s Grey Market Premium (GMP) today is Rs 51 per share, which indicates an expected listing price of Rs 219, a premium of over 30 per cent over its issue price of Rs 168.
The finalisation of the basis of allotment for UFSL’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 NSE SME set for 31st October, 2024, the statement concluded.
