Powerica’s IPO closed with 1.45x subscription on Day 3, driven mainly by strong QIB demand at 4.5x, while retail interest stayed weak. The grey market showed a marginal Rs 2 premium over the issue price of Rs 395. The company aims to raise ₹1,100 crore through a mix of fresh issue and OFS.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets