The first day of the Popular Vehicles and Services IPO didn't kick off with much speed. However, all the shares set aside for employees got filled up quickly. Regular folks and smaller investors took their time to show interest in the IPO. According to data from BSE, the total subscription rate was 27%.
The part for regular investors got 47% filled up, while the Non-Institutional Investors part was taken up by 11%. The Qualified Institutional Buyers part hasn't been filled yet. However, employees showed strong interest, subscribing 3.83 times their portion.
The company set aside up to 50% of its shares for big investors, like institutions, and at least 15% for smaller non-institutional investors. Additionally, they kept at least 35% of the shares for regular people who want to invest.
