Technofab Engineering IPO subscribed 0.61 times

The Initial Public Offering (IPO) of Technofab Engineering Limited has received subscription of 0.61 times. The company has come out with IPO of 29,90,000 Equity Shares of Rs 10 each for cash at a price band of Rs 230 to Rs 240 through 100% book building process.

The issue has received total bids for 1812300 equity shares against the offer of 2990000 equity shares. The issue has received bids for 426675 equity shares at cut-off price.

The Minimum Order Quantity is 25 equity shares and in multiples of 25 equity shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency Fitch Ratings India Private Limited has assigned IPO grade of IPO Grade 3 (ind).

Collins Stewart Inga Private Limited is the Book Running Lead Manager to the IPO. ITI Financial Services Limited, Intime Spectrum Securities Limited and SMC Global Securities Limited are the Syndicate Members to the issue.

Link Intime India Private Limited is the registrar to the company.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 262250 equity shares against the offer of 1470000 equity shares resulting in a subscription of 0.18 times.

The Non Institutional Investors portion of the issue has received subscription of 2.13 times with bids for 939950 equity shares against the offer of 441000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 559125 equity shares against the offer of 1029000 equity shares resulting in a subscription of 0.54 times.

The Employee Reservation portion has received subscription of 1.02 times with bids for 50975 equity shares against the offer of 50000 equity shares.

Source : Equity Bulls

Keywords