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Thejo Engg IPO oversubscribed

BS Reporter/Mumbai 07 Sep 12 | 12:49 AM

The initial public offering (IPO) of Thejo Engineering, the first company proposed to be listed on the National Stock Exchange's SME platform, was oversubscribed 1.49 times on the last day of the issue on Thursday.

The Rs 21-crore IPO, received bids for more than 0.07 million shares compared to 0.04 million shares on offer, data available with the National Stock Exchange (NSE) showed.

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Till 5 pm, the qualified institutional buyers (QIB) category was subscribed 100 per cent, while the non-institutional investors portion was subscribed 0.91 times and retail individual investors category received 2.44 times subscription.

The Chennai-based company has fixed a price band of Rs 402-430 per equity share of Rs 10 each. The firm would become the first company to be listed on the small and medium enterprises exchange platform of the NSE, EMERGE.

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