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IPO Wrap: Sigachi Industries IPO subscribed 101.91 times; Policybazaar IPO subscribed 16.59 times

The blockbuster week of initial public offerings (IPOs) came to an end on Wednesday with three IPOs – Policybazaar operator PB Fintech, SJS Enterprises and Sigachi Industries – which were launched earlier this week, got oversubscribed.

Policybazaar IPO was subscribed 16.59 times on the final day while Sigachi Industries IPO witnessed a whopping 101.91 times subscription by the end. SJS Enterprises was subscribed 1.59 times, data available on the BSE showed.

The Policybazaar IPO received bids for over 57.23 crore (57,23,84,100) shares against the total issue size of over 3.45 crore (3,45,12,186) shares, the BSE data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 24.89 times, while those of non institutional investors was subscribed 7.82 times and that of retail individual investors (RIIs) was subscribed 3.31 times, the data showed.

Likewise, Sigachi Industries IPO received bids for nearly 54.90 crore (54,89,47,440) shares against the total issue size of over 53.86 lakh (53,86,500) shares, according to the BSE data.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 86.51 times, while those of non institutional investors was subscribed 172.43 times and that of retail individual investors (RIIs) was subscribed 80.49 times, the data showed.

Coming to SJS Enterprises, this IPO received bids for nearly 1.68 crore (1,67,97,537) shares against the total issue size of over 1.05 crore (1,05,46,140) shares, as per the BSE data.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 1.42 times, while those of non institutional investors was subscribed 2.32 times and that of retail individual investors (RIIs) was subscribed 1.38 times, the data showed.

Going ahead, investors will now look forward to the share allotment date of these three companies. The finalisation of the basis of allotment for PB Fintech, SJS Enterprises and Sigachi Industries is expected to take place on Wednesday, November 10, 2021, as per the information provided in the red herring prospectus of the abovementioned companies.

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