The initial share sale of consumer electronics manufacturer Dixon Technologies Ltd. generated strong demand from investors and was subscribed 117.69 times on the last day of bidding on Friday.
The initial public offer (IPO) to raise up to Rs 600 crore received bids for more than 27 crore shares against the total issue size of over 23 lakh data, available with the NSE till 7:45 pm showed.
The category reserved for qualified institutional buyers (QIBs) was subscribed 134.77 times, non-institutional investors 345.73 times and retail 10.11 times. Till Thursday, the IPO was subscribed 4.25 times.
Dixon Technologies on Tuesday raised nearly Rs 180 crore from anchor investors.
The company has fixed the price band at Rs 1,760-1,766. The offer comprises fresh issue aggregating up to Rs 60 crore shares, besides an offer for sale of up to 30,53,675 shares by certain existing shareholders.
Proceeds from the issue will be utilised for setting up a unit for manufacturing LED TVs at its Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure.
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