QVC Exports IPO Day 2: Issue subscribed over 23 times so far, retail investors lead; check key dates

QVC Exports IPO has received a strong response from investors, with the issue being subscribed 23.89 times so far on the second day of bidding on Thursday, August 22.

The portion reserved for retail individual investors attracted 41.45 times the subscription, while the non-institutional investors (NIIs) category was subscribed 6.31 times.

The Kolkata-based ferro alloys trader's initial public offering opened for subscription on August 21 and will conclude on August 23. The issue price for the fixed-price issue is ₹86 per share.

The ₹24.07-crore IPO consists of a fresh issue of shares valued at ₹17.63 crore and an offer for sale (OFS) component of 7.48 lakh equity shares worth ₹6.44 crore.

The fresh issue proceeds will be used to repay the company's unsecured loans, meet its working capital requirements, and for general corporate purposes.

Khandwala Securities Limited is the book-running lead manager for the issue, and Cameo Corporate Services Limited is the registrar.

QVC Exports IPO: Key dates

• Bidding dates: August 21 to August 23
• Allotment finalisation: August 26
• Refund initiation: August 27
• Demat transfer: August 27
• Listing: August 28

About QVC Exports

Established in 2005, QVC Exports specialises in trading ferroalloys, including low-carbon silico manganese, high-carbon silico manganese, high-carbon ferro manganese, ferro silicon and high-carbon ferro chrome. The company also deals in raw materials for steel production, such as chrome ore, manganese ore and coke.

The firm exports its products to countries including Japan, Taiwan, Vietnam, Thailand, Bangladesh, Turkey, Korea, Italy, Afghanistan, Ukraine, the United Kingdom, Oman, and Belgium. In addition to exporting, the Kolkata-based company imports high-quality manganese ore from renowned suppliers in France and Hong Kong.