One Point One Solutions IPO garners Rs 2,600-cr subscription

Thane-based business process outsourcing (BPO) company One Point One Solutions has taken the SME markets by storm garnering a whopping subscription of over Rs 2,600 crore for its Rs 43 crore initial public offering.
The issue, which opened for subscription on December 13 and closed today, was subscribed more than 84 times, a statement issued by the lead manager Pantomath Group said.
The company's Rs 43 crore initial public offer (IPO) comprised sale of 66.24 lakh equity shares, of which 18.82 lakh were reserved for anchor investors.
On Tuesday, the company had raised Rs 12 crore from anchor investors. This was the first time the anchor portion was provided for and subscribed in any small and medium enterprise (SME) IPO, it added.

Proceeds from the issue would be utilised towards repayment of debt, working capital and general corporate purposes.