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Endurance Technologies IPO over-subscribed on last day

Endurance Technologies IPO over-subscribed on last day
Automobile component maker Endurance Technologies' Initial Public Offering (IPO) is fully subscribed. Photo: Official Website

Automobile component maker Endurance Technologies' Initial Public Offering (IPO) is fully subscribed.

Friday October 7 is the last day for investors to place their bids and by afternoon, the IPO received bids of around 2.19 crore shares, for the total issue size of 1.73 crore shares.

Qualified Institutional Buyers (QIB) oversubscribed their share by 1.70 times, at 83.44 lakh shares against 49.92 lakh shares offered. On NSE, the Retail Individual Investors tapped 82% of issue size with 70.46 lakh shares bid.

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Endurance Technologies is looking to raise Rs 1161 crore at price band between Rs 467 – Rs 472 per share.

Endurance Technologies Ltd (ETL) is India’s largest two-wheeler (55% of revenue) and three-wheeler (9%) automotive component supplier. 
 

Written By: ZeeBiz WebTeam
Updated: Fri, Oct 07, 2016
12:37 pm
Mumbai, ZeeBiz WebDesk
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