The Birdy’s IPO, as of April 18, 2024, at 5:43:57 PM (Day 3), has been subscribed 8.68 times. This indicates that the total number of shares bid for is approximately 8.68 times the total shares offered.
Breaking down the subscription by category:
– In the Retail category, the IPO has been subscribed 12.78 times, suggesting that retail investors have bid for nearly 12.78 times the number of shares allocated for them.
– In the Qualified Institutional Buyer (QIB) category, the subscription rate has not been provided in the provided information.
– In the Non-Institutional Investor (NII) category, the subscription rate stands at 4.59 times, indicating that non-institutional investors have bid for over 4.59 times the shares allocated to them.
Further details within the NII category reveal:
– The total number of shares offered to NII investors is 6,51,600, and they have bid for 29,89,200 shares, indicating strong demand from this category.
Overall, the total number of applications received for the Birdy’s IPO is 6,939, suggesting the number of unique bids submitted by investors across all categories. This reflects significant interest and demand for the IPO shares.
Birdy’s IPO, a fixed price issue of Rs 16.47 crores, comprises entirely fresh issue shares totaling 13.73 lakh shares. The IPO opened for subscription on April 15, 2024, and closed on April 18, 2024. The allotment is expected to be finalized on April 19, 2024, with the tentative listing date set as April 23, 2024, on NSE SME.
Priced at ₹120 per share, the minimum lot size for an application is 1200 shares, requiring a minimum investment of ₹144,000 for retail investors and ₹288,000 for High Net Worth Individuals (HNI).
Inventure Merchant Banker Services Pvt Ltd is the book running lead manager, and Bigshare Services Pvt Ltd is the registrar for the issue. Rikhav Securities serves as the market maker for Birdy’s IPO.
The objectives of the IPO include funding additional working capital requirements, pre-payment or repayment of certain outstanding borrowings, and catering to general corporate purposes.
