Prestige Estates 1,200cr IPO subscribed 1.75 times till 2pm

Prestige Estates 1,200cr IPO subscribed 1.75 times till 2pm

New Delhi: Realty developer Prestige Estates Projects’ Rs1,200 crore initial public offer (IPO) got over- subscribed 1.75 times, hours before the end of issue on Friday.

The IPO, which opened on 12 October received total bids for over 10 crore shares against 5.72 crore equities on offer, as per the NSE data available till 1400 hours.

Final figures of the IPO will be available by the end of day. The Bangalore-based real estate developer has entered the capital market with its public float priced in a range of Rs172 to Rs183 per share.

The company has already raised Rs215.4 crore for its IPO by roping in 23 anchor investors, including Reliance MF, DSP Blackrock and Credit Suisse.

Anchor investors, which will get shares in Prestige IPO, include Sundaram BNP, HDFC MF, Alliance Berstein India Growth Fund, Indus Capital Advisor UK, Government of Singapore, Lloyd George, HSBC MF, Mirae Asset and Axis MF.

Enam Securities, JP Morgan India, Kotak Mahindra Capital Company and UBS Securities India are the book running lead managers to the issue.

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