- Wealth PMS
Infibeam was successful in raising Rs 450Cr on Day 3 of its IPO process. With regard to our earlier post, Infibeam completed its Last Subscription day with 111% subscription, 0.11 times subscription than required. For the total issue size of 1,25,00,000 shares, it received bids for 1,38,30,894 equity shares.
Infibeam Incorporation Limited Subscription after completion of IPO process 23-03-2016 17:00 PM
Let’s have a look at the numbers of Infibeam IPO.
|Total Issue Size||1,25,00,000 Shares|
|Total Bids Received||1,38,49,254 Shares|
|Total Bids Received at Cut-off Price||14,83,488 Shares|
|No. of times issue is subscribed||1.11|
They scraped through.
Institutions apparently weren’t as interested, with only 0.86x of their shares bid for. HNI and Retail seem to have bid and got through.
The Listing is on April 4, and will mark an interesting time for an ecom listing. Will this be a proxy for Indian e-commerce? Or will it be like Rediff, and stay listed in a corner that no one cares about?
With a scrape-through situation, this IPO might not really be fireworks on listing, but you never know!