The preliminary public providing of kitchen options firm Range Kraft was subscribed 98 per cent on the primary day of bidding Monday. The general public provide bought bids for 57.94 lakh fairness shares in opposition to provide dimension of 58.94 lakh shares, subscription knowledge on the exchanges reveal.
The provide dimension was diminished after the corporate raised Rs 185 crore from anchor traders final Friday, a day earlier than the problem opening.
The subscription on the retail investor’s finish has been full as their reserved portion subscribed 5.3 instances, whereas the portion put aside for non-institutional traders was subscribed 4.73 per cent, however certified institutional patrons haven’t began placing their bids but.
The debut public provide, which is able to shut on January 28, consistsof a contemporary concern of Rs 95 crore and a suggestion on the market of 86.50 lakh fairness shares by promoters and traders (Sequoia Capital). The contemporary concern proceeds shall be utilised for compensation of money owed.
The worth band for the problem has been mounted at Rs 384-385 per share.
Range Kraft manufactures and retails of a large and various suite of kitchen options below Pigeon and Gilma manufacturers, and has plans to start out manufacturing of kitchen options below the BLACK + DECKER model, protecting your complete vary of worth, semi-premium and premium kitchen options, respectively.