Omfurn India Limited NSE SME IPO receives subscription of 1.33 times

The Initial Public Offering (IPO) of SME company Omfurn India Limited at NSE SME Exchange has received total bids for 2412000 equity shares resulting in a subscription of 1.33 times.

The Qualified Institutional Buyers(QIBs) portion of the issue received bids for 96,000 equity shares. Foreign Institutional Investors(FIIs), Domestic Financial Institutions(Banks / Financial Institutions(FIs) / Insurance Companies), Mutual funds didn't apply for any shares and others had applied for 96,000 shares.

The Non Institutional Investors portion of the issue received subscription for 8,46,000 equity shares. Out of the above, Corporates applied for 1,74,000 equity shares, Individuals(Other than RIIs) have subscribed for 6,72,000 equity shares and others for 0 equity shares.

The Retail Individual Investors(RIIs) portion received bids for 14,70,000 equity shares. Out of the above, subscription for 0 equity shares were at Cut Off price and the balance of 14,70,000 equity shares were through price bids.

The company came out with Public issue of 18,12,000 Equity Shares (including Market Maker reservation portion of 96,000 equity shares) at a fixed price of Rs 23. The Face Value of each share is Rs. 10.

Sarthi Capital Advisors Private Limited was the Book Running Lead Manager to the issue. Bigshare Services Private Limited is the registrar to the company.

Source : Equity Bulls

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