Adlabs Enter makes smart debut

Adlabs Entertainment got listed on the BSE today at Rs.162.20 v/s issue price of Rs.180/share. But it also went to as low at Rs.1564.0, it then bounced back and it now at Rs.184.45.

This comes as a great surprise for those who invested in the IPO despite extension of the dates and the scaling down on the price. The issue was to close on 12th March but it did not get the required subscription – it did not get even 50% of the money, 44% to be more precise but it was retail investors who were the biggest investors. The party poopers were the Institutional investors, HNIs. The issue was thus extended till 17th March and the price band has been revised from Rs.221-230 to Rs.180-215.

The IPO was subscribed 1.11 times wherein retail investors have got a discount of Rs.12 on the issue price.