The initial public offering (IPO) of a housing finance company, backed by a global private equity firm, was subscribed 1.48 times on Thursday, the second day of bidding. The ?3,000-crore IPO received bids for 10.35 crore shares against 7.00 crore shares available, according to exchange data.

The portion reserved for qualified institutional investors was subscribed 2.05 times, while the segment for non-institutional investors saw 1.9 times subscription. The retail investor category received 94% subscription.

The IPO consists of a fresh issue of equity shares worth ?1,000 crore and an offer for sale of ?2,000 crore by the promoter entity affiliated with the private equity firm, which currently holds a 98.72% stake in the housing finance company. The three-day offering is priced in the range of ?300–?315 per share. The company also raised ?898 crore from anchor investors on Tuesday.

The housing finance firm benefits from the resources and expertise of its global investment-firm backer. Several financial institutions are serving as managers to the public offering.

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