The initial public offer of Info Edge (India) Ltd, owner of job portal Naukri.com, has received an enthusiastic response from investors with the issue getting subscribed by more than five times on the second day itself.
According to the data available on stock exchanges, the issue has been subscribed by more than 5.57 times on the second day of its offer.
The issue, which closes on November 2, saw an overwhelming response from Qualified Institutional Buyers. The QIB portion has been subscribed by more than six times.
The public offer consists of 53.23 lakh (Rs 5.323 million) equity shares of Rs 10 each, of which 5.32 lakh (Rs 532,000) shares are reserved for employees. The issue would constitute 19.50 per cent of the fully-diluted post issue paid-up capital of the company.
The company plans to raise between Rs 154-174 crore (Rs 1.54-1.74 billion) based on the price band of Rs 290-320 per share.
The proceeds of the IPO would be used to purchase or lease real estate for their offices, to acquire companies and to develop alternate delivery models.
ICICI Securities and Citigroup Global Markets India Pvt Ltd are the Book Running Lead Managers to the issue and Intime Spectrum Registry Ltd is the registrar.
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