The initial public offering Oriana Power Ltd, which closed today, has been oversubscribed 176.58 times collecting Rs 7,000.90 crore. This is a record response retail participation in the SME segment. The retail portion of the public offering has been over-subscribed 204.03 times.
For the retail portion the company has received bids for 34.27 lakh shares for amounting to Rs 4,044.78 crore. The Qualified Institutional Buyers (QIB) category was over-subscribed 72.16 times. While the Non-Institutional Investors (NII) category was subscribed 251.70 times.
Marquee investors, including renowned names such as Morgan Stanley Asia (Singapore), Abbakus, Aryabhata India, Rajasthan Global, Meru Investments, and LRSD Securities participated in company’s anchor book
Corporate Capital Ventures Private Ltd acted as the Lead Manager for the issue, while Skyline Financial Service Private Ltd acted as the Registrar of the issue.
The public issue of the Noida-headquartered company opened for subscription August 01, 2023 and closed today. The company had set a price band of Rs.115 -118 per share. The IPO comprises 50.55 lakh equity shares (Face Value. Rs. 10 each) through the book-building route. The shares of the company will be on NSE Emerge.
Of the total issue size of 50.55 lakh shares, the company has allocated 24.00 lakh shares for Qualified Institutional Buyers (including Rs. 14.40 lakh for Anchor Investors), and 7.20 lakh shares for Non-Institutional Investors. For Retail Investors, the company has set aside 16.80 lakh shares for allocation.
