AceVector IPO Subscription Update: Issue Subscribed 1.12 on Day 2
On the second day, AceVector received bids for 8,30,66,724 shares against 7,42,29,166 shares available for subscription, according to NSE data. The retail investor category was subscribed 1.29 times, while the Non-Institutional Investor (NII) category and Qualified Institutional Buyer (QIB) portion had received 1.17 times and 1.03 times bids, respectively, at the time of the update. Investors can also visit our IPO page to track subscription updates and other upcoming public issues.
| SR. NO. | CATEGORY | NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY |
|---|---|---|
| 1. | Qualified Institutional Buyers (QIBs) | 1.03 |
| 2. | Non-Institutional Investors | 1.17 |
| 3. | Retail Individual Investors (RIIs) | 1.29 |
| - | Total | 1.12 |
AceVector Overview & Purpose
AceVector is offering a Rs 420 crore IPO, comprising a fresh issue of Rs 287 crore and an Offer for Sale (OFS) of Rs 133 crore. The issue is priced in the range of Rs 30 to Rs 32 per share, with a minimum lot size of 468 shares.
The Company plans to utilise the net proceeds from the fresh issue towards funding a portion of the marketing and business promotion expenses of its Marketplace business, funding technology infrastructure costs of the Marketplace business, funding inorganic growth through acquisitions and general corporate purposes. The proceeds from the OFS will be received by the respective Selling Shareholders.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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