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JustDial IPO Bids At 70% On Day 2

Retail investor participation increased almost five fold after a fairly low key participation on day one of JustDial’s IPO: Total bids from retail investors increased to 1,224,725 shares at the end of day 2, up from 246,200 at the end of day 1. Thus, around 70% of the total 1,749,745 shares that retail investors are allowed, have been bid for, and most of them (89% of bids from retail investors, so far) have been at the cut-off price.

Participation from Qualified Institutional Buyers (FII’s and Mutual Funds) also increased, with Mutual Funds finally participating, but bidding only for 56200 shares. FII’s have bid for 8141850 shares in all.

Participation from Corporates and Individuals other than retail investors has been insipid, and less than a percent of the shares allocated to them have been bid for.

All in all, around 69.62% of the shares on offer have been bid for, mostly by QIBs. which sets the stage for day 3 (today), when there could be a rush to file bids.

Some numbers and calculations of bidding on day two, if you’re into that sort of a thing:

justdial-ipo-medianama

Some additional reading:
JustDial IPO: On PE, EPS, Profit, Safety Net
10 Things You Should Know About The JustDial IPO

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