Nu Tek India's IPO got fully subscribed till the final day of offer on Friday. It plans to raise about Rs 86.4 crore through its initial public offer,
The issue received demand of 1.63 times the shares on offer, receiving bids for over 73.49 lakh shares as against on offer of 45 lakh shares, as per the NSE data. The The qualified institutional buyers got subscribed 2.05 times, while the non-institutional investor portion subscribed 1.78 times. The retail investor portion got fully subscribed on the final day. The public issue of 45 lakh shares of Rs 10 each, comprised of fresh issue of 3.5 lakh equity shares and an offer for sale of 10 lakh shares.
The price band of the issue has been fixed between Rs 170 and Rs 192.
The company intends to utilize the IPO proceeds to meet capital expenditure cost along with overseas acquisitions and augmenting the long term working capital requirement. CRISIL has been assigned an IPO-grade of three out of five to the issue.
The company would list its shares on Bombay Stock Exchange and National Stock Exchange. The book running lead manager to the issue are SPA Merchant Bankers and India Infoline.
The issue received demand of 1.63 times the shares on offer, receiving bids for over 73.49 lakh shares as against on offer of 45 lakh shares, as per the NSE data. The The qualified institutional buyers got subscribed 2.05 times, while the non-institutional investor portion subscribed 1.78 times. The retail investor portion got fully subscribed on the final day. The public issue of 45 lakh shares of Rs 10 each, comprised of fresh issue of 3.5 lakh equity shares and an offer for sale of 10 lakh shares.
The price band of the issue has been fixed between Rs 170 and Rs 192.
The company intends to utilize the IPO proceeds to meet capital expenditure cost along with overseas acquisitions and augmenting the long term working capital requirement. CRISIL has been assigned an IPO-grade of three out of five to the issue.
The company would list its shares on Bombay Stock Exchange and National Stock Exchange. The book running lead manager to the issue are SPA Merchant Bankers and India Infoline.
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