New Delhi:
On the second day of registration on Wednesday, 95 percent had subscribed to the Initial Public Offer (IPO) of electronics company Elin Electronics.
The IPO received bids for 1,34,54,580 shares against 1,42,09,386 shares tendered, according to NSE data.
The category intended for non-institutional investors was subscribed 1.29 times, Retail Individual Investors (RIIs) received 1.33 registrations and Qualified Institutional Buyers (QIBs) share 1 percent.
The IPO has a new issue of up to Rs 175 crore and a sale offer of up to Rs 300 crore, aggregated to Rs 475 crore.
The initial stock sale of Elin Electronics received 37 percent subscription on the first day of the offering on Tuesday.
The price range for the offering is Rs 234-247 per share.
Based in Delhi, Elin is a manufacturer of end-to-end product solutions for major brands of lighting, fans and small kitchen appliances, and a leading manufacturer of fractional horsepower motors in the country.
Axis Capital and JM Financial are the managers of the offer.
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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