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Friday November 20, 08:30 PM
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Cox and Kings India IPO subscribed 6.31 times
MUMBAI (Reuters) - Travel operator Cox and Kings (India) Ltd's initial public offer of shares, which closed on Friday, has been subscribed 6.31 times, according to data on the National Stock Exchange (^NSEI : 4781.35 -11.3
).
Cox and Kings had set a price band of 316-330 rupees a share for its IPO, which included a fresh offer for 15.45 million shares and an offer for sale of 3.04 million shares.
Qualified institutional portion was subscribed 9.95 times, non-institutional investor category 10.69 times and retail portion was subscribed 0.98 times as of 6 p.m. on Friday.
The company has allocated 2.7 million equity shares at 330 rupees per share to anchor investors including SBI (SBIN.NS : 1935.3 -15) Mutual Fund and Sundaram BNP Paribas Mutual Fund.
The firm plans to raise up to 6.1 billion rupees through the IPO and will use the funds for future acquisitions and to cut debt.
India Infoline Limited is the sole book running lead manager to the issue that opened on Nov 18 and ends on Friday.
Cox and Kings India is the parent of UK-based unlisted Cox and Kings and accounts for nearly 66 percent of the group's global revenues.
(Reporting by Aniruddha Basu; Editing by Sunil Nair)
