MV Electrosystems leads mainboard IPO rush with 188.85 times subscription, Juniper Green Energy booked 7.97 times
MV Electrosystems saw robust demand across investor categories
The mainboard IPO market saw strong investor demand, with MV Electrosystems' public issue closing with an overall subscription of 188.85 times and Juniper Green Energy's IPO receiving a subscription of 7.97 times. MV Electrosystems, a Mumbai-based company specializing in electrical and power electronics equipment for railway rolling stock, saw robust demand across all investor categories in its IPO.
The company raised ₹130.5 crore from anchor investors and plans to use the proceeds for business expansion and other corporate purposes. Meanwhile, Juniper Green Energy, a Gurugram-based company, raised ₹539.4 crore from anchor investors and plans to use the funds to repay or prepay certain borrowings and invest in its subsidiaries for loan repayment. Shares for both companies are set to list on the BSE and NSE on August 6.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
