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S Chand IPO concludes with a stunning 60 times oversubscription

The S Chand IPO received bids for 45,72,01,910 shares against the total issue size of 76,85,284 shares.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 44.02 times and non institutional investors was oversubscribed by a massive 206.03 times. Retail investors category was oversubscribed 6.11 times.

The above subscriptions resulted in the IPO getting oversubscribed by as much as 60 times on an overall basis

Proceeds from the issue will be utilised for repayment and prepayment of loans as well as for general corporate purposes. The loan amount includes those taken by its subsidiary for funding the acquisition of Chhaya Prakashani

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