BSE Ltd’s record-smashing IPO over-subscribed over 50 times

Mumbai, Jan 25 (IANS) India’s first and oldest stock exchange BSE Ltd completed a record-breaking IPO attracting over 1.13 million applications to be oversubscribed by 51.06 times, it was announced on Wednesday.

Claiming many firsts to its credit on the final third and issue’s closing day, the BSE Ltd’s IPO became the country’s first stock exchange to breach the one-million-plus applications mark.

At 6 p.m., it notched a staggering 1.13 million applications and counting was still on.

It is also the first IPO post-demonetisation to attract over a million applications and collected around Rs 45,000 crore, said a spokesperson.

Overall oversubscribed by 51.06 times, its QIB portion was subscribed by 48.64 times, HNI portion subscribed 169.03 times, and Retail Individual Investors portion oversubscribed by 6.18 times till the closing hours.

Retail investors have invested Rs 2,600 crore-plus which is 2.09 times the total IPO size of Rs 1,243 crore.

Of the issue size, the anchor portion was Rs 373 crore and non-anchor portion of Rs 870 crore was subscribed over 51 times.

This has resulted in an oversubscription of Rs 44,370 crore, or overall amount of Rs 45,000 crore was collected till 6 p.m.

It also became the first Rs 1,000 crore IPO of calendar year 2017, first one after RBL to be subscribed over 50 times overall, and over 150 times in HNI-NII category in financial year 2017.

Overwhelmed by the public response to the three-day issue, the BSE got into an impromptu celebratory mood by with BSE Managing Director and CEO Ashish Chauhan cutting a massive six-feet long, 20-kg cake.

He was joined by the BSE team, investment bankers, friends and associates at the celebrations.

Founded in 1875, BSE Ltd is Asia’s first stock exchange and ranks as the world’s 11th largest.