Elevate Campuses IPO Subscription Update: Issue Subscribed 0.23 Times on Day 2
On the second day, Elevate Campuses received bids for 77,02,260 shares against 3,36,73,468 shares available for subscription, according to NSE data.
The retail investor category was subscribed 0.23 times, while the Non-Institutional Investor (NII) category and Qualified Institutional Buyer (QIB) portion had received 0.33 times and 0.18 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.
Elevate Campuses IPO Subscription Details
| Sr. No. | Category | No. of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 0.18 |
| 2 | Non-Institutional Investors | 0.33 |
| 3 | Retail Individual Investors (RIIs) | 0.23 |
| - | Total | 0.23 |
Elevate Campuses Overview & Purpose
Elevate Campuses is offering a Rs 2,100 crore IPO, comprising a fresh issue of Rs 2,100 crore.
- Price Band: Rs 343 to Rs 362 per share
- Minimum Lot Size: 41 shares
- IPO Size: Rs 2,100 crore
- Fresh Issue: Rs 2,100 crore
Use of IPO Proceeds
The company plans to utilise the net proceeds towards the following:
- Acquiring K-12 entities and campuses from fellow subsidiaries of its promoters.
- Repayment or prepayment of certain outstanding borrowings of the company and certain wholly owned subsidiaries.
- Funding unidentified acquisitions and other strategic initiatives.
- General corporate purposes.
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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