Business

Adlabs’ IPO subscribed 60% on day before close

The price band is between Rs 180 and Rs 215 per share

The initial public offer (IPO) of theme park operator Adlabs Entertainment was subscribed 60 per cent a day before closing. The offering had received 10.6 million bids as against 17.6 million on offer. The retail investor category was subscribed 1.1 times, while the other two segments—meant for qualified institutional buyer (QIB) and high networth individual (HNI)—were covered a little over half.

Adlabs was supposed to close its issue on Thursday. However, the company was forced to extend the closing by three trading days and also had to slash its