29.04.10 Despite retail investors largely ignoring the Nitesh Estates IPO, concerted institutional support has provided the lifeline. The qualified institutional portion (WIB) of the issue was subscribed 2.54 times, while the non-institutional investors (HNI) portion was subscribed 0.22 times. The retail portion was subscribed just 0.1604 times. The last few realty IPOs have registered lukewarm response from retail investors and have been largely bailed out by FIs. It needs to be seen if Prestige Constructions which is also planning to hit the market shortly, can change this trend. |
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