Dixon Technologies IPO subscribed 4.26 times on Day 2
New Delhi: The initial public offering (IPO) of Dixon Technologies (India) Ltd, a contract manufacturer of electronic products, was subscribed 4.26 times on the second day of the offering on Thursday, while the share sale of Bharat Road Network Ltd, a road and highways company closed with an overall subscription of 22%.
According to stock exchange data at 5 pm, the portion of the Dixon Technologies share sale reserved for institutional investors was subscribed 8.93 times, while those reserved for non-institutional investors and retail investors saw 30.54% and 3.27 times subscriptions, respectively.
The company has priced its shares in the range of Rs1,760-1,766 per share.
The Rs600 crore IPO consists of a fresh issue of shares worth Rs60 crore and an offer for sale of 3.05 million shares by its investor Motilal Oswal Private Equity, which at the upper end of the price band will raise Rs540 crore.
IDFC Bank Ltd, IIFL Holdings Ltd, Motilal Oswal Investment Advisors Ltd and Yes Securities (India) Ltd are managing the share sale for Dixon Technologies.
Meanwhile, exchange data showed that the portion of Bharat Road Network Ltd (BRNL) shares reserved for institutions was subscribed 52%, while those for non-institutional bidders and retail investors were subscribed 63% and 2 times, respectively.
BRNL has priced its shares in a band of Rs195-205 for the share sale.The company is looking to raise Rs600 core in a fresh issue of shares.
Inga Capital Pvt. Ltd, Investec Capital Services (India) Pvt. Ltd and Srei Capital Markets Ltd are managing the share sale for Bharat Road Network.
Both the share sales close on Friday.
So far this year, 17 companies have raised a total of Rs14,185.12 crore through IPOs, data from primary market tracker Prime Database shows.