Liqvd Digital India's $3.6M IPO fully subscribed on day one
What's the deal? Liqvd Digital IndiaDealroom has a profile for this one. Try Dealroom →'s initial public offering was subscribed 1.03 times on its first day of bidding, September 23, 2026. The company is raising up to US$4.63M (roughly $3.6 million) through the offer, which combines a fresh issue of shares with an offer-for-sale.
The numbers: The issue drew bids for 7,834,000 equity shares against 7,594,000 on offer. The non-institutional investor portion led demand at 3.77 times, while qualified institutional buyers subscribed 1.00 times.
What's still open? Retail individual investors had subscribed just 0.04 times on day one. Bidding runs until Friday, September 25, 2026, leaving room for the retail portion to fill.
The structure: The shares carry a face value of US$0.07 each. Promoter Arnab Mitra is selling up to 902,000 shares in the offer-for-sale component. Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 thereafter.
The book-built issue follows Securities and Exchange Board of India rules, reserving no more than 50% for qualified institutional buyers, at least 15% for non-institutional investors, and at least 35% for retail investors.
The signal: Strong institutional and high-net-worth appetite on the opening day points to investor interest in India's small-cap listings, even as retail demand lags early. The final tally over the three-day window will show whether that momentum holds.
Read more: bwmarketingworld.com
Image credit: Generated with Gemini
