Techpro Systems Limited IPO : Finally subscribed 24.47 times

by khalid on 03/10/2010 · 0 comments

Tecpro Systems Limited is a Rs1000 crore turnover company undertakes turnkey projects in Bulk Solids Handling Systems including, raw material handling systems for power, steel, cement plants etc. The IPO of Techpro Systems Limited has received a good response from the investors with the final over-subscription figure reached to 24.47 times on an overall basis. Techpro Systems Limited IPO was open on 23rd Sep 2010 and get closed on 28th Sep 2010 for subscription.The IPO has managed to garner a good response from Non-Institutional Investors Category where it overbid by 62.48 times on the final day of subscription.

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

Qualified Institutional Buyers (QIBs) : 27.99 times
Non Institutional Investors : 62.48 times
Retail Individual Investors : 9.07 times
Employee Reservations : 0.35 times
Overall : 24.47 times

The IPO proceeds would be used for funding working capital requirements and funding expenditure for general corporate purposes.

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

The book running lead managers to the issue are Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited.

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

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