Quess Corp IPO subscribed 144x; investors bid far over 102 cr shares vs 70 lakh on offer

On Tuesday, it allotted 5,678,234 equity shares, aggregating to approximately R180 crore, to its anchor investors

Mumbai

Updated: July 2, 2016 11:46 IST

Endurance Technologies' initial public offering (IPO) is all set to hit capital markets on October 5 at a price band of Rs 467-472 per equity share of face value of Rs 10 each.

The initial public offering (IPO) of Bangalore-based staffing firm Quess Corp, which closed on Friday, was subscribed 144 times, with investors bidding for 102.32 crore shares against 70 lakh fresh shares on offer.

The promoters – Ajjit Issac and Thomas Cook India – are targeting R400 crore from the issue. The price band was fixed at R310-R317 per share.

Qualified institutional buyers (QIBs) bid for 23 crore shares, against 39 lakh shares reserved for them, oversubscribing 59.02 times. High net worth individuals (HNIs) bid for 75.15 crore shares, against 19 lakh shares reserved for the category, bidding 392.2 times. Retail individual investors (RIIs) bid for nearly 32.3 times of their quota or 4.12 crore shares, against 12 lakh shares on offer.

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On Tuesday, the company allotted 5,678,234 equity shares, aggregating to approximately Rs 180 crore to its anchor investors including Birla Sun Life Trustee, ICICI Prudential Midcap, Nomura Trust and Banking, DSP Blackrock Equity and Reliance Capital among others. Axis Capital, ICICI Securities, IIFL, Yes Securities were the book running lead managers for the issue.

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