New Delhi, Jan 31 (PTI) The initial public offering of Chalet Hotels, which owns, develops and manages high-end hotels in key metro cities in India, was subscribed 1.48 times till afternoon trade on the last day of bidding Thursday.Also Read - Highlights | India vs Japan Asian Champions Trophy Semi-Final: JAP Beat IND 5-3, Set Final Showdown With South Korea

The initial public offering (IPO) to raise about Rs 1,641 crore received bids for 6,12,49,980 shares against the total issue size of 4,13,26,672 shares, as per NSE data till 1500 hrs. Also Read - Highlights India vs New Zealand 3rd T20I Match : IND Win By 73 Runs, NZ Whitewashed 3-0

Till Wednesday, the IPO got subscribed 28 per cent. Also Read - Highlights | India vs New Zealand 2nd T20I Match: IND Beat NZ By 7 Wickets, Clinch T20I Series

The IPO comprises a fresh issue worth Rs 950 crore and an offer for sale of up to 2,46,85,000 shares (including anchor portion of 1,75,84,071 shares).

Price range for the offer is Rs 275-280 per equity share.

This is the first IPO of 2019.

The equity shares of the company are proposed to be listed on BSE and NSE.

JM Financial, Axis Capital, and Morgan Stanley India Company Private Ltd are managing the IPO.

The initial public offer opened for bidding on Tuesday.

This is published unedited from the PTI feed.