Endurance Technology’s IPO of USD 174 million oversubscribed on last day

The Stock Exchange data indicated that Endurance Technology, the leading automotive component manufacturing company, whose Initial Public Offering (IPO) worth Rs. 11.6 billion, equivalent to USD 174 million, was nearly 44 times oversubscribed on Friday.

The company received bids for 754.3 million shares against 17.2 million on offer, as per data updated as of 01:15 GMT. The shares were being sold in a price range of 467 rupees to 472 rupees each.

Indian companies have raised USD 2.9 billion through Initial Public Offerings in the first nine months of this year, a 171% jump from a year earlier, in their best run since 2010, as per data compiled by Thomson Reuters.

Comments are closed.