5 times subscription for Sheela Foams
Rashmi Wankhede / 02 Dec 2016
As per NSE data, Sheela Foams IPO has been subscribed 5.44x on the final day - December 1, 2016.
Sheela Foams Ltd, one of India’s leading manufacturer of mattresses under the brand name “Sleepwell”, launched its initial public offer from November 28, 2016 to December 1,2016 with a price band of Rs 680-Rs 730 per share for face value of Rs 5.
As per NSE data, Sheela Foams IPO has been subscribed 5.44x on the final day - December 1, 2016. The IPO comprises of an Offer for Sale (OFS) of Rs 510 crore of equity shares by Polyflex Marketing Pvt Ltd (selling shareholder).
The IPO of Sheela Foams was fully subscribed till the afternoon trade on the last day and received bids for 65,38,260 shares as against the total issue size of 52,50,001 shares. The company received amazing response after mid-day and allotted 20,95,889 equity shares to 14 anchor investors at Rs 730 per share aggregating Rs 153 crore.
Despite demonetization travails, the company received spectacular response from anchor investors such as Fidelity, Goldman Sachs, East Spring, HDFC MF, SBI MF, ICICI Pru AMC, Premji Invest, IDFC MF and Sundaram MF.
Edelweiss Financial Services Ltd and ICICI Securities Ltd were Book Running Lead Managers to this IPO. Being an OFS, the company will not receive any proceeds raised from this IPO.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.