iValue Infosolutions' IPO: A Promising Start with High Stakes
The IPO of Creador-backed iValue Infosolutions witnessed a 28% subscription on its first day. The Rs 560-crore offering is a complete offer for sale, with the proceeds going to selling shareholders. The public offering aims to list on the BSE and NSE, concluding on September 22.
- Country:
- India
The initial public offering (IPO) of iValue Infosolutions Ltd, partly backed by private equity firm Creador, saw a promising 28% subscription rate on its first day. Investors bid for over 36 lakh shares against the 1.31 crore shares available, as reported on the opening day of bidding.
Retail individual investors subscribed to 45% of their allocated shares, whereas non-institutional investors subscribed to 23% of their allocation. The Rs 560-crore IPO aims to close on September 22, with a price range set between Rs 284 and Rs 299 per share, valuing the company at an estimated Rs 1,600 crore at the higher end.
This IPO is a complete offer for sale of 1.87 crore shares by major stakeholders, including Sundara (Mauritius) Ltd, a Creador affiliate, and the company's promoters. The initiative's primary goal is to facilitate the stock exchange listing and benefit existing shareholders. iValue Infosolutions specializes in enterprise technology solutions, supporting large enterprises through digital transformation.
(With inputs from agencies.)
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