Update | 19:10 IST Aye Finance’s public issue ended final day of bidding with an undersubscription, with investors bidding for 97% of the overall float. Investors cumulatively bid for 4.42 Cr shares against 4.55 Cr shares on offer. The issue received the highest interest from qualified institutional buyers, who oversubscribed their quota by 1.5X. QIBs bid for 3.72 Cr shares against 2.48 Cr reserved for them. Retail investors undersubscribed their quota, bidding for 63.56 Lakh shares against 82.78 Lakh reserved for them. This translated to a 77% subscription. The least interest for the issue came from non-institutional investors (NIIs), who subscribed to a mere 5% of their quote. NIIs bid for 6.23 Lakh shares of the issue out of 1.24 Cr reserved for them. Although the IPO closed undersubscribed, the NBFC has met SEBI’s minimum subscription threshold. Under SEBI’s ICDR Regulations, an IPO is required to receive at least 90% subscription of the issue size to be considered successful. Original | 14:15 IST NBFC Aye Finance’s IPO picked up pace on the final day of bidding and was subscribed 51% as of 14:15 IST. It received bids for 2.30 Cr shares against 4.55 Cr shares on offer. Qualified institutional buyers… Read MoreInc42 Media
