- The IPO saw a dramatic reversal on its second day, with overall subscription surging to 3.07 times by close of bidding on Tuesday, compared to just 0.69 times at the end of Day 1.
- Total bids reached 19,26,08,310 shares for 6,27,61,403 shares on offer by August 18’s close, indicating a significant increase in investor interest across all categories.
- Non-institutional investors drove the rally most forcefully, subscribing 6.46 times their reserved portion with bids for 8,64,17,422 shares.
- Retail individual investors also crossed the fully subscribed mark comfortably, reaching 2.78 times with 8,68,52,172 shares bid.
- Qualified institutional buyers (QIBs) crossed the threshold on Day 2, subscribing 1.02 times.
- The employee reserved portion reached 3.09 times.
- The IPO closes tomorrow, August 19, and QIB subscription in particular could see further movement on the final day.
Lalithaa Jewellery Mart's IPO experienced a significant uptick in subscription, soaring to 3.07 times by the end of Day 2, a stark contrast to the 0.69 times recorded on Day 1. Total bids reached 19,26,08,310 shares against 6,27,61,403 shares on offer, showcasing a robust investor appetite across various categories.12
The surge was primarily driven by non-institutional investors, who subscribed 6.46 times their reserved portion, with bids for 8,64,17,422 shares. Within this group, high-value applicants bidding above ₹10 lakh subscribed 6.66 times, while those in the ₹2 lakh to ₹10 lakh range came in at 6.07 times.3
Retail individual investors also showed strong interest, comfortably surpassing the fully subscribed mark at 2.78 times with 8,68,52,172 shares bid. Qualified institutional buyers (QIBs) crossed the threshold on Day 2, subscribing 1.02 times, with foreign institutional investors contributing 1,18,88,396 shares within the QIB category.45
The employee reserved portion saw a subscription rate of 3.09 times. The IPO is set to close tomorrow, August 19, and further movement in QIB subscription is anticipated on the final day.67
“Total bids reached 19,26,08,310 shares against 6,27,61,403 shares on offer, indicating a significant increase in investor appetite. Non-institutional investors led the charge, subscribing 6.46 times their reserved portion with bids for 8,64,17,422 shares.”
