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Prabhat Dairy's IPO closes successfully

By Religare
|

Prabhat Dairy successfully concluded its IPO despite weakness in the secondary market, said the media reports.

In a statement, the company said, "Prabhat Dairy has successfully concluded the IPO comprising of a fresh issue aggregating up to Rs 300 crore and an offer for sale (OFS) of up to 14,706,000 equity shares."

The company has collected more than Rs 300 crore through fresh issue portion.

The qualified institutional buyers (QIBs) bid for 76 per cent and retail investors applied for just 26 per cent of the portion reserved for them. However, portion reserved for HNIs and corporates segment was subscribed for 142 per cent.

 

Earlier, the IPO was extended by three days to September 4 as the issue failed to generate interest among investors on its final day of offering. It also offered a discount of Rs 5 a share to retail investors.

Story first published: Monday, September 7, 2015, 23:00 [IST]
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