The issue received bids for 92.08 crore shares as against 83.86 lakh shares on offer, according to the latest data available with the bourses.
Till yesterday, the portion reserved for Qualified Institutional Buyers (QIBs) was subscribed by over 20 times with bids for 10.21 crore shares, majority of which came from FIIs, the data reveals.
The domestic financial institutions, such as banks, mutual funds and insurance companies who also belong to the QIB category, submitted bids for 1.51 lakh shares so far for the public issue, yesterday’s data show.
The portion for retail investors has received bids for about 1.43 times, while the shares reserved for employees have been oversubscribed 5.5 times.
The other non-institutional investors, which includes corporates and non-retail individual investors, segment has also been oversubscribed with bids for 10.82 times of the total shares reserved for them.
The price band for the issue has been fixed between Rs 725-825 per share. The book building process began on November 15.
The company is planning to raise about Rs 700 crore of which Rs 378 crore would be utilised for strengthening operations of its unlisted securities arm Edelweiss Securities Ltd (ESL) and Rs 57 crore would be used in its own operations.
Kotak Mahindra Capital, Citigroup and Lehman Brothers are the book running lead managers to the issue.
Source : economictimes.indiatimes.com