IPO Observations

Astron Paper: Krafty IPO

Astron Paper,a Kraft paper manufacturer, has come out with an IPO in the price band of Rs.45-50 per share

What is interesting is the shrewd way the merchant bankers have done the allocation- around 10% of the shares offered is to institutions and a whopping 52% is to HNIs.

The merchant bankers probably felt that HNIs with the help of IPO financing will ensure their IPO sails through.

Wonder if this will be a trend setter for other mid-sized IPOs.

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