Affle India makes strong debut, lists at 25% premium over issue price

NEW DELHI: Mobile marketing firm Affle India on Thursday made a strong debut at the exchanges as the stock got listed at Rs 929.90, a premium of 24.82 per cent over its issue price of Rs 745 per share.
The initial public offer (IPO) of the mobile marketing company was a huge hit amongst investors as it was subscribed 86.49 times on the final day of bidding on July 31.
The Rs 459-crore IPO received bids for 29,21,57,880 shares against the total issue size of 33,78,021 shares, as per data available with the NSE.
The quota limit for qualified institutional buyers (QIBs) was subscribed 55.31 times, for non-institutional investors 198.69 times and for retail individual investors 10.94 times, according to merchant banking sources.
"We received approximately 2,96,561 applications across all investor segments, subscribing to Affle India IPO by 86.48 times. We pledge to focus on sustainable growth and to take Affle to greater heights from here," Affle (India) Limited chairman, managing director, chief executive officer Anuj Khanna Sohum told news agency PTI.
(With PTI inputs)