Mumbai: The initial public offer (IPO) of Mahindra Holidays & Resorts got subscribed 40% on the second day of its issue on Wednesday with most of the bids coming in from institutional investors.
The issue received bids for 37.21 lakh shares, representing 0.40 times of the shares on offer, as per data available with the National Stock Exchange.
The price band for the issue has been fixed between Rs275 and Rs325 per equity share.
Qualified institutional buyers, which include foreign institutional investors (FIIs) and mutual funds, subscribed 63% of the 55.59 lakh shares reserved for them, the NSE data shows.
The issue received 1.85 lakh bids (0.06 times) from the retail institutional investors, for which the company has reserved 27.79 lakh shares.
The company has come out with an IPO of over 92.65 lakh shares and the issue would close on June 26. PTI SKR KG 06242059 DELHI