The ₹755 crore initial public offering (IPO) of Harsha Engineers International was subscribed 74.7 times on Friday – the last day of bids. According to stock market data, the issue received bids for 125.97 billion shares versus 1.69 shares on offer. This is the strongest investor reaction yet to a 2022 IPO.
In 2022, the £562bn Dreamfolks Services IPO has been subscribed 57 times so far, while the £1,400bn Campus Activewear IPO has been subscribed 52 times. The portion reserved for qualified institutional buyers received 178.26 subscriptions, while the portion reserved for non-institutional investors received 71.32 subscriptions. The retail portion was subscribed 17.63 times.
The IPO was a mixture of a new issue of shares with a total value of ₹455 crore and an offer to sell up to 300 crore. On Tuesday, ahead of its public offering, the company raised £2.26 billion from anchor investors by allocating 68.41 lakhs of shares to institutions.
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