Global Markets
Home›Global Markets›Emerging Markets›Caliber Mining and Logistics IPO draws heavy oversubsc…
Caliber Mining and Logistics IPO draws heavy oversubscription on Day 3
The ₹450 crore IPO priced a ₹402 to ₹424 range and saw a grey market premium of ₹86 per share, implying an estimated listing price near ₹510.
Caliber Mining and Logistics’ IPO was heavily oversubscribed on the final bidding day, with bids reaching 114 crore shares against 74.29 lakh shares on offer, translating to an overall subscription of 154.66 times, according to LiveMint Markets.
Non-institutional investors were oversubscribed 281 times and qualified institutional buyers were subscribed 253 times, while retail demand for the offered quota rose to 43.40 times.
The company’s public issue totals ₹450 crore, made up of a fresh equity issuance of up to ₹400 crore and an offer for sale of up to ₹50 crore by promoters Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, and Rahul Roshanlal Chadda, the outlet said.
The IPO has a price band of ₹402 to ₹424 per equity share with a ₹10 face value, and shares are set to list on both NSE and BSE. LiveMint Markets also said the grey market premium stood at ₹86 per share, suggesting a potential listing around ₹510 per share, or roughly a 20.3% premium over the upper end of the deal range.