Economy

Godrej Agrovet IPO oversubscribed by 2.33 times on Day-2

Godrej Agrovet's initial public offer (IPO) received bids for 93.76 lakh shares as compared to 1.8 crore shares on offer on the first day of bidding for the IPO today, 4 October 2017, data on NSE showed as at 17:15 IST.

Till yesterday, the IPO was oversubscribed 2.33 times.

As of 5pm on Thursday, the portion of shares reserved for institutional investors saw a subscription of 2 times, while the portions reserved for retail investors and non-institutional investors were subscribed 2.8 times and 2.09 times, respectively.

The company has set a price range of Rs 450-460 per equity share for its public offer. At the upper end of the band, the sale would fetch around Rs 1,157 crore.

The proceeds from the IPO will be used to repay its working capital facilities of Rs 100 crore and to also repay commercial papers worth Rs 150 crore.

Godrej Agrovet earlier this week raised a little over Rs 341 crore from anchor investors.

Kotak Mahindra Capital Company, Axis Capital, Credit Suisse Securities (India) and Karvy Computershare are the book running lead managers for the proposed issue.

Godrej Industries owns 60.81 percent in Godrej Agrovet, which is an agri-business company with operations across five verticals - animal feed, crop protection, oil palm, dairy, poultry and processed foods.



Like this

Latest


07 October 2017
Next Weeks Broker Price Targets For Progressive Corporation (The) (NYSE:PGR)
Over the past year, the price of The Progressive Corporation (PGR ) has increased 59.23% while the S&P 500 has increased 17.92%. Thrivent Financial For Lutherans grew its holdings in shares of Progressive Corporation (The) by 544.0% during the 2nd quarter.

07 October 2017
Callahan Advisors LLC Purchases 3731 Shares of Gilead Sciences, Inc. (GILD)
While taking a look at financials, we can look at a number of key indicators about Gilead Sciences , Inc. (NASDAQ: GILD ). Since May 1, 2017, it had 0 buys, and 5 sales for $11.13 million activity. $71,766 worth of Consolidated Edison, Inc.

07 October 2017
Sprint, T-Mobile on final approach for deal this month
A deal would call for T-Mobile CEO John Legere and his management team to take control of the combined company, according to a person familiar with the deal talks.

07 October 2017
Shanghai SIPG midfielder Oscar: Conte system forced me out of Chelsea
Against Tottenham too, I always scored against them", he said. "I think it's the two games that were very hard to face off". The Brazilian playmaker left the London club for Chinese side Shanghai SIPG in a €60m transfer ten months ago.

07 October 2017
Interior Ministry files complaint to dissolve opposition
One of the remaining parliamentarians derided allegations that the CNRP had been involved in planning a US-backed coup. Prime Minister Hun Sen, who has been in power for 32 years, is preparing for parliamentary elections next year.

07 October 2017
Comedian Ralphie May Has Passed Away
May and his wife, Lahna Turner, separated in 2015 after 10 years of marriage. "Ralphie" May died of cardiac arrest in Las Vegas, PEOPLE confirms.

07 October 2017
Analyst Recommendations And Earnings Forecast: Paychex, Inc. (PAYX), Achaogen, Inc. (AKAO)
They now have a $62.00 price objective on the business services provider's stock, up from their prior price objective of $60.00. The business services provider reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02.

07 October 2017
ValuEngine Lowers Boyd Gaming Corporation (BYD) to Hold
The company's shares were given away at $26.71 per share worth to an income of some $186,970 on account of Boyd William R. For BYD, the company now has $184.6 Million of cash on the books, which is offset by $23.99 Million current liabilities.

07 October 2017
Man faces murder charges in deaths of 2 women over a decade
Two days later, Kansas City firefighters responded to a burning vehicle report and determined the auto belonged to Runions. Prosecutors said they will instead work with Cass County prosecutors on the two counts of murder filed there.

07 October 2017
Healthy Overload - McDonald's Testing New Vegan Burger
But before vegans in the United States get too excited, they should know that they'll have to fly overseas to give it a taste. Still, there are some other vegan fast-food options you can munch on while impatiently waiting for the McVegan .



Recommended