BS TransComm IPO : Finally subscribed 1.10 times

by khalid on 13/10/2010 · 0 comments

The IPO of BS TransComm Limited has received a very poor response from the investors with the final over-subscription figure reached to just 1.10 times on an overall basis. And this too when the subscription period had been extended for 3 days. BS TransComm IPO was open between 6th Oct 2010 and 13th Oct 2010 for subscription.The IPO has managed to get a respectively so so response from Non Institutional Investors Category where it overbid by 3.16 times on the final day of subscription. The price band for the issue was Rs 257 at lower level and Rs 266 at upper level. BS TransComm is a manufacturer of towers for telecommunication and power sectors. BS Transcomm plans to provide tower companies with solar and wind power solutions along with its existing fuel management solutions.

The category-wise subscription status of IPO on closing day is given below:-

Qualified Institutional Buyers (QIBs) : 0.52 times
Non Institutional Investors : 3.16 times
Retail Individual Investors : 1.04 times
Overall : 1.10 times

The proceeds of this IPO will be used for Part funding of phase I and phase II – expansion in Tower Mfg. (Majeedpally), setting up of backward intg. structural mill-phase I (Majeedpally), to part finance margin money for Working Capital and to fund general corporate purposes.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The sole book running lead manager to the issue is JM Financial Consultants Private Limited

Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.

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