Patel Retail IPO Day 3 Live: Patel Retail IPO subscription status on day 2 was 19.50 times. The retail segment saw a subscription rate of 16.58 times, while the non-institutional investor (NII) section was subscribed 26.11 times; Qualified Institutional Buyers (QIBs) submitted bids 17.16 times. The employee category recorded a subscription of 9.58 times.
Patel Retail Ltd commenced its public subscription on August 19, with the closing date set for August 21. Patel Retail IPO price band has been established between ₹237 and ₹255 per equity share, with a face value of ₹10. On Monday, the company raised over ₹43 crore from anchor investors ahead of its initial public offering (IPO).
The Patel Retail IPO includes a mix of 85.18 lakh shares through a fresh issue and an offer for sale of 10.02 lakh shares by promoters.
The proceeds from the fresh issue will be utilized for repaying debt, addressing working capital requirements, and for general corporate activities. Fedex Securities is the sole book-running lead manager for this offering, while Bigshare Services acts as the registrar for the issue.
(Stay tuned for more updates)
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