Now Reading: Horizon Industrial Parks IPO subscription reaches 0.24 times on Day 2
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Horizon Industrial Parks IPO subscription reaches 0.24 times on Day 2
Horizon Industrial Parks IPO subscription reaches 0.24 times on Day 2
Horizon Industrial Parks’ Rs. 2,600 crore initial public offering was subscribed 0.24 times by the close of bidding on Tuesday, up from 0.14 times on Day 1, The Hindu BusinessLine reports. Retail…
Horizon Industrial Parks’ Rs. 2,600 crore initial public offering was subscribed 0.24 times by the close of bidding on Tuesday, up from 0.14 times on Day 1, The Hindu BusinessLine reports. Retail investors’ subscription rose to 0.43 times, while the employee quota reached 0.61 times. Qualified institutional buyers subscribed 0.21 times and non-institutional investors 0.16 times. The issue closes on Wednesday, August 19, at a price band of Rs. 57 to Rs. 60 a share.
LiveMint reported early on Tuesday that the issue was subscribed 16% and cited a Rs. 1.7 grey-market premium. It also reported subscribe ratings from Swastika Investmart and Ventura Securities, while noting Horizon’s restated loss of Rs. 203.65 crore and finance costs of Rs. 538.99 crore. The fresh issue will use up to Rs. 2,250 crore to repay debt. Allotment is expected on August 20 and listing on August 24.
Indian Opinion Analysis
The Hindu BusinessLine provides end-of-day category data and places the subscription increase in the context of the issue’s debt-repayment plan. LiveMint uses an intraday update, grey-market premium and brokerage recommendations, giving the story a more investor-facing and promotional frame. Its inclusion of losses, finance costs and execution risks adds balance to the positive ratings, but the early figures are not directly comparable with the final Day 2 totals. The measured reading is that demand improved but remained below the shares available after two days. Investors will watch the final subscription figures on August 19, especially QIB participation, which has a 75% allocation.
Coverage: 3 sources, 2 neutral, 1 sensationalist
Sources (3): thehindubusinessline.com (neutral report), thehindubusinessline.com (2) (neutral report), livemint.com (sensationalist)
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
