The initial public offer (IPO) of electronic manufacturing services (EMS) major, Dixon Technologies on Thursday was fully subscribed on the second day of the public issue. 

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The IPO has been oversubscribed by 1.28 times, as showed by NSE data. 

Till 1259 hours the IPO had received bid for 30,49,704 shares as against the total issue size of 23,76,557 equity shares.

This issue will close on September 08, 2017. Price band for this IPO has been fixed at lower end of Rs 1760 per piece and upper end of Rs 1766 per piece.

50% of the total equity shares has been kept for qualified institutional buyers (QIB), while 15% for non-institutional investors (NII) and remaining 35% has been allotted to retail individual investors (RII).

Before the beginning of the IPO, the analysts had given thumbs up to this compnay. 

Recommending "Subscribe" option, Rahul Gajare and Dhirendra Tiwari analysts at Antique Stock Broking said, “Outlook for Dixon appears bright as the Indian consumer durables market is expected to see strong growth with 17% CAGR between FY16-20 on the back of (1) low penetration levels, (2) easy financing schemes and (3) expansion of delivery models, including ecommerce.”

Having similar views, Dhiral Shah analysts at Asit C. Mehta Investment Intermediates said, “ At the upper price band of Rs 1766/-, the company’s stock trades at 38.6x its FY17 EPS of Rs. 45.86/-, which is priced. Hence, we recommend to SUBSCRIBE the issue from a long-term perspective.”