Microsec Financial Services IPO : Finally subscribed 12.20 times

by khalid on 25/09/2010 · 0 comments

Microsec Financial Services Ltd. provides various financial products and services to their target client base of retail investors, high net worth individuals, companies and institutions. The company is a well-recognized brand in eastern India with adequate base of research delivery capabilities. The IPO of Microsec Financial Services Limited has received a good response from the investors with the final over-subscription figure reached to 12.20 times on an overall basis. Microsec Financial Services IPO was open on 17th Sep 2010 and get closed on 21st Sep 2010 for subscription.The IPO has managed to garner a good response from Non-Institutional Investors Category where it overbid by 35.88 times on the final day of subscription.

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

QIB : 5.91 Times
Non-Institutional Investors : 35.88 Times
Retail Investors : 11.04 Times
Overall : 12.20 Times

The proceeds of this IPO will be used to Expand their Financing business, Expand MCap’s domestic operations by increasing network of branches, Enhance MCap’s existing technological capacity, General corporate purposes; and Achieve the benefits of listing the Equity Shares on the Stock Exchanges.

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 SBI Capital Markets Limited.

Registrar of the Issue : Link Intime India Private Ltd, Mumbai.

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