Mahindra Holidays and Resorts India (MHRIL) has fixed the issue price for its Initial Public Offering at Rs 300 per share.
The IPO, which broke the four-month lull in the primary market, was over subscribed 9.8 times the number of shares on offer at the end of the issue period on June 26.
The issue received bids for 9,08,33,800 shares against the issue size of 92,65,275 shares, a statement said today. The price band of the issue had been fixed between Rs 275 and Rs 325 per share.
However, the issue was subscribed around 7.13 times at the top end of the price band at Rs 325, while the rest of the bids were less than the higher end of the band.
The size of the issue stood at Rs 301.12 crore at the upper end of the price-band and Rs 254.80 crore at the lower end. As per initial data available on NSE website, the issue got subscribed 9.8 times with the QIB portion subscribed around 12.83 times, HNIs around 11.01 times and retail around 3.3 times, the statement said. The retail investors’ portion was subscribed around 3.36 times. – PTI