The issue is oversubscribed 2.37 times after anchor investors put in Rs 170 crore ahead of the IPO, according to subscription data at 5 pm on March 19.
The bank received bids worth Rs 613 crore from retail investors while Rs 198 crore was allocated for them. High net worth individuals (HNIs) have put in Rs 112 crore against Rs 85 crore allocation.
Qualified institutional investors put bids worth Rs 248 crore against the allocation of Rs 113 crore.
The response from the bank’s own employees remained lukewarm with just one-third of the allocated Rs 15 crore was subscribed even as they were offered a discount Rs 30 per share.
The shares were offered at Rs 303-305 price band.
The IPO includes primary issue of shares worth Rs 249 crore and an offer for sale worth Rs 333 crore. Some existing investors such as International Finance Corporation and HDFC Holdings are looking to partly offload their stakes through this exercise.
