India, June 23 -- Update | June 23, 20:48 IST

The IPO of Turtlemint closed with 1.2X oversubscription. The public issue received bids for 3.96 Cr shares against 3.29 Cr shares on offer.

Qualified institutional buyers (QIBs) led the subscription, bidding for 2.83 Cr shares against 1.78 Cr shares earmarked for them. This translated to 1.59X subscription.

Retail investors (RIIs) also subscribed their quota completely, placing bids for 64.54 Lakh shares against 60.49 Lakh shares reserved for them. This translates to 1.07X oversubscription of their quota.

However, the portion reserved for non institutional investors (NIIs) remained undersubscribed at 52%. These investors placed bids for 47.61 Lakh shares against 90.73 Lakh shares reserved ...