Uma Exports IPO subscribed 2.14 tomes on first day of issue itself

 

Commodities exporter Uma Exports’ initial public offer was subscribed 2.14 times on the first day of issue on Monday. It received great response especially from retail investors, who bid 2.90 times the portion which was allotted for them. Non institutional investors quota was subscribed 46 per cent.

 

The IPO received bids for 1.97 crore equity shares against the offer size of 92.30 lakh equity shares.

 

Qualified institutional buyers have not bid for the public offer as of now. Half of the offer is for QIBs, 35 per cent is earmarked for retail investors and the remaining 15 per cent is for non-institutional investors.

 

Uma Exports aims to raise ₹ 60 crore through its maiden public offer which is a fresh issue of shares. The net proceeds obtained will be used for working capital requirements and general corporate purposes.