ugatz: the denouement
portfolio investors untroubled that their money was destined to repay past sins of omission and commission rewarded the listing with a multiple of 33 times forward earnings
portfolio investors untroubled that their money was destined to repay past sins of omission and commission rewarded the listing with a multiple of 33 times forward earnings
Shares of Advanced Enzyme Technologies Ltd jumped 31.51% on debut on Monday, after its Rs.412 crore initial public offer (IPO) received a stunning subscription of more than 116 times when it closed last month.
Advanced Enzyme shares opened 35.04% higher on the BSE at Rs.1,210, compared to the issue price of Rs.896.
The Advanced Enzyme issue was subscribed 116.02 times. While the portion reserved for qualified institutional buyers (QIBs) saw a subscription of 94.02 times, the non-institutional investors’ category, which sees subscription from high net worth individuals (HNIs), was subscribed 393.10 times.
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