Market Performance
Patel Retail Ltd’s IPO witnessed a strong start on Tuesday, August 19, quickly drawing investor attention in the primary market. The subscription momentum highlighted a robust demand for the supermarket chain's shares.
- IPO Subscription: 1.36 times within just 2 hours of opening
- Anchor Investors Contribution: Over ₹43 crore collected on Monday, August 18
Main News
The Patel Retail IPO received overwhelming participation from retail and non-institutional investors:
- Total Shares Bidding: 1.06 crore against 78.15 lakh shares on offer
- Overall Subscription: 1.036 times by 12 p.m.
- Retail Individual Investors (RIIs): 1.43 times subscription
- Non-Institutional Investors: 1.89 times subscription
- Qualified Institutional Buyers (QIBs): 2% subscription
The IPO is priced in the range of ₹237 to ₹255 per share, making it accessible to a wide range of investors.
Company Details
Patel Retail Ltd is a leading supermarket chain, focusing on providing quality products across urban and semi-urban areas. With its IPO, the company aims to expand its reach and strengthen its market presence.
Summary of the Article
- Patel Retail IPO fully subscribed within hours on Day 1
- Strong participation from retail and non-institutional investors
- Price band fixed between ₹237 and ₹255 per share
- Anchor investors contributed over ₹43 crore before public subscription
Patel Retail’s successful IPO reflects strong investor confidence and marks a significant milestone for the supermarket chain in India’s retail sector
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