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Summary:

Three IPOs – Meesho, Aequs, and Vidya Wires – concluded their bidding process on Friday with strong investor demand. All three were oversubscribed, with Meesho being subscribed nearly 8 times, Aequs over 11 times, and Vidya Wires over 8 times by the end of Thursday. Retail and non-institutional investor categories showed significant interest. Grey market premiums also indicated sustained demand. Allotment is expected on December 8, and listing on the NSE and BSE is scheduled for December 10.

News Article:

Meesho, Aequs, and Vidya Wires IPOs See Strong Investor Demand as Bidding Closes

Mumbai, India – December 6, 2024 – The initial public offerings (IPOs) of Meesho, Aequs Ltd, and Vidya Wires Ltd wrapped up bidding on Friday, with all three issues garnering significant investor interest and robust subscription rates.

SoftBank-backed e-commerce platform Meesho’s Rs 5,421-crore IPO was subscribed 7.97 times by the end of Thursday, drawing bids for over 221 crore shares against the 27.79 crore shares on offer. Retail and non-institutional investor interest were particularly strong, with subscriptions exceeding 9 times.

Contract manufacturing firm Aequs Ltd’s Rs 922-crore IPO saw even stronger demand, being subscribed 11.10 times. The retail category was subscribed nearly 33 times, indicating strong participation from individual investors.

Vidya Wires Ltd’s Rs 300-crore IPO was subscribed 8.26 times, with the retail portion subscribed 11.45 times. The issue was fully subscribed within hours of opening, demonstrating strong investor confidence.

Market observers noted rising grey market premiums for all three IPOs, signaling continued demand in the unofficial market.

Allotment for the IPOs is expected to be finalized on December 8th, with listing on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) scheduled for December 10th.

Investors are advised to stay tuned for further updates regarding the allotment process and listing details.

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