Punjab, Sept. 28 -- AceVector's Rs 420 crore IPO closes today after a slow start - 23% subscribed at the end of day one. It raised Rs 189 crore from anchor investors and is tentatively listing on 1 October.
The issue, and the market it walked into
Snapdeal's parent priced at Rs 30 to Rs 32, with two-thirds of the Rs 420 crore as a fresh issue.
Day one drew bids for 1.72 crore shares against 7.42 crore on offer. The final day usually does most of the work in any book, so the closing number is the one that counts - but a 23% opening day is soft by any reading.
It also opened into a week in which the Nifty has fallen to a six-month low, foreign investors have pulled Rs 21,000 crore out this month, and India's largest-ever listing managed a...