IndiGo IPO got oversubscribed! Retail investors remains tepid

The initial public offering (IPO) of IndiGo was oversubscribed on the second day of book building as investors bade for 3,02,19,735 shares against 3,01,22,088 offered.

This happened manly due to subscription frenzy by qualified institutional bidders (QIBs). However, the response from non-institutional and retail investors remains tepid.

According to data available on National Stock Exchange (NSE), there were bids for 2,95,20,480 shares against the quota limit of 85,22,935 on offer. The bids came in mostly from FIIs.

The QIB quota has been subscribed 3.46 times so far.

Non-institutional investors bade for 45,645 shares against the quota limit of up to 58,19,746. Retail investors, on the other hand, bid for 6,19,230 shares against 13,579,407 shares set aside for the category.

On Monday, the allotted shares to 43 anchor investors, including Merrill Lynch, GIC, Goldman Sachs, Ruane, Cunniff & Goldfarb, Fidelity Investments and DSP Blackrock, in a pre-issue share sale.

The allocation to anchor investors constituted nearly 30% of the total issue. It fetched a total of Rs 832 crore.
(Image: Indiatimes)