Apex Ecotech Limited's initial public offering (IPO), which went live on November 27, ended with a solid demand from all categories of investors. Tremendous response from investors led to receive subscription of 457 times reservations were made for the NSE SME issue on Friday, November 29, the last day of bidding.
With over 105.62 crore shares applied for out of the 23.10 lakh shares available, the total subscription was 457.15 times.
Total subscription across all categories
The Non-Institutional Investors' (NIIs') reaction to the IPO was unparalleled. The NIIs placed bids for approximately 58.53 crore shares out of the 4.96 lakh shares available, booking their quota 1,180 times.
In addition, the retail investors demonstrated exceptional interest by subscribing 329.64 times and placing bids for over 38 crore shares out of the 11.55 lakh shares that were available.
Qualified Institutional Buyers (QIBs) placed bids for 9 crore shares out of the 6.59 lakh shares available, booking their share 139.69 times.
IPO size and structure
The Rs 25.54 crore Apex Ecotech IPO is a book-building issue. The IPO is a brand-new 34.99 lakh share offering.
Price band and minimum bid
The price range for the IPO has been set at Rs 71 to Rs 73 per share. A single lot of 1,600 shares, or an investment of Rs 1,16,800, is the minimum application size for retail investors. It is mandatory for High Net Worth Individuals (HNIs) to apply for at least two lots, or 3,200 shares, valued at Rs 2,33,600.
Change shareholding pattern after IPO
Anuj Dosajh, Ramakrishnan Balasundaram Aiyer, Ajay Raina, and Lalit Mohan Datta are the promoters of the company's initial public offering. Together, they owned 94.32 per cent of the company's shares before the issue. Their combined ownership will drop to 69.29 per cent after the IPO.
Listing and subscription timeline
From November 27 to November 29, subscriptions for the Apex Ecotech IPO were accepted. The finalization of the IPO share allotment status is planned for Monday, December 2. On December 3, the business will transfer shares to the Demat accounts and process refunds.
The date set for the IPO listing is Wednesday, December 4. Apex Ecotech Limited's shares will be listed on Emerge, the NSE's SME platform.
Book running lead manager and registrar
KFin Technologies Limited is IPO registrar. Share India Capital Services Ltd. is the issue's book-running lead manager, and Share India Securities is the market maker.
IPO proceeding use
Apex Ecotech Limited intends to use the issue's proceeds for working capital needs, including general business needs and costs associated with the public offering.
