The initial public offer (IPO) of Technofab Engineering got oversubscribed by 1.10 times, hours before the issue closed today.
The IPO, through which the engineering company intends to raise up to Rs 71.76 crore, received total bids for 32.91 lakh shares against 29.90 lakh equities on offer for public, thus getting subscribed 1.10 times over, revealed the data with the National Stock Exchange till 1300 hrs.
Final figures of the issue subscription will be available after the closing of the IPO in evening. The issue opened on June 29.
Technofab Engineering has entered capital market with IPO in the price range of Rs 230 to Rs 240 per share. At the upper band of the price range, Technofab will be able to mop-up Rs 71.7 crore on the issue sale.
The public offering has received good response from non- institutional investors and was subscribed 2.13 times in that category till the end of second day of issue, as per the latest data available with the National Stock Exchange.