Birla Pacific Medspa IPO fully subscribed

The QIB portion was subscribed 1.04 times whereas the portion reserved for retail investors got subscribed to the tune of 1.82 times.

Of the total bids received,373.93 lakh bids were received at cut-off price.

Out of the proceeds of the IPO,the company proposes to utilise Rs 49 crore for establishing 55 8216;Evolve8217; outlets,around Rs 6 crore for brand building and the balance for meeting working capital,issue and other preliminary expenses.

The company is considering locations in Delhi,Bangalore,Ahmedabad,Pune,Chennai,Hyderabad,Jaipur and Goa for the centres,among other cities.

Prior to the IPO,the promoter holding in Birla Wellness amp; Healthcare Pvt Ltd stood at 64.77 per cent.

Other major stakeholders in the company include Pacific Healthcare India Pte Ltd,Singapore,which holds 7.20 per cent,Pachealth Medical Services Pvt Ltd 5.22 per cent and Bennett,Coleman amp; Company Ltd 22.81 per cent.