Tue. Mar 19th, 2024

The NBFC crash seems to have no effect on the recently initiated IPO of Aavas Financiers. The Jaipur-based HFC Aavas Financier raised 97% subscription against its share sale which aimed to raise ₹1734 crore initial public offering.

According to BSE‘s data at 6.00pm on Thursday, The total share available for subscription were 1,47,85,027 at a price ranging from ₹818-821 against which the company received bids for 1,43,96,076 shares, reported Economic Times. 

The Data also revealed that Qualified institutional quota got subscribed 2.77times. Further, the non-insitutional and retail investors category was subscribed 26% and 25% respectively.

Among the top investors who invested in Aavas Financiers are Abu Dhabi Investment Authority, Kuwait Investment Authority, Nomura, HSBC Halbis, Morgan Stanley, SBI MF, ICICI Prudential MF, Reliance MF, Birla MF, Kotak MF, DSP MF, IDFC MF, Sundaram MF, Edelweiss MF and IIFL MF.

Contrary to what analysts said earlier about not investing in crashed NBFC, Aavas’s IPO is recommended for a long-term issue.

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