Affle Bidding Information
The mobile marketing firm Affle IPO subscribed to 81% on the second day of bidding. As per NSE data, Affle India IPO has received 27,43,040 shares from a total of 33,78,021.
The IPO has reserved for qualified institutional buyers subscribed to 37 percent meanwhile retail investors subscribed 3.21 times and Non-institutional buyers subscribed 10 percent on the second day.
As per the source, Affle IPO is the first initial public offer under the UPI system. SEBI said that all categories of investors should fill applications through Unified Payments Interface (UPI). It also mentioned that the UPI process is a must for retail investors.
The IP will close for subscription on 31st July. The IPO fixed a price band at Rs 740-745 per equity share. On its draft prospectus, the company has mentioned that the money raised through the IPO will utilize for the capital requirements and general corporation.
The IPO has managed by ICICI Securities and Nomura Financial Advisory and Securities India.