The third IPO issue of 2018 after Apollo Microsystems and Newgen yet again received an overwhelming response as at the first bidding day on January 17, 2018, the IPO issue floated to raise Rs. 600 crore for paring its debt was subscribed fully.
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With a prime company as the OEM supplier to the AC industry and catering some big names in the consumer durable space, the brokerages have given thumbs up to the issue.
Plus the financials and given the improving purchasing power demand of white goods is only to shore up in years ahead.
The company through anchor investors reaped Rs. 179 crores.
Now it is to be seen, it the scrip makes listing gains or not.