TAKE Solutions Completely Subscribed On Second Day

MUMBAI: The initial public offering of TAKE Solutions Ltd was subscribed 1.18 times on day 2 of the issue. The IPO received 24,71,787 bids against issue size of 21,00,000 shares. The company, with focus on life sciences and supply chain management solutions, entered the primary markets August 2. The price band of 100% book building issue is Rs 675-730 per share. The issue closes August 7. The issue will constitute 17.50% of the completely diluted post issue paid up equity capital of the company. The company will use the proceeds to acquire companies, businesses and products. TAKE Solutions purchased Texas based, ClearOrbit Inc, a supply chain execution and collaborative supply management solutions provider in June 2007 for an aggregate value of $20.6 million.