The Initial Public Offering (IPO) of SME company Tirupati Forge Limited at NSE SME Exchange has received total bids for 11860000 equity shares resulting in a subscription of 6.59 times.
The Qualified Institutional Buyers(QIBs) portion of the issue received 0 bids. The Non Institutional Investors portion of the issue received subscription for 30,44,000 equity shares. Out of the above, Corporates applied for 92,000 equity shares, Individuals(Other than RIIs) have subscribed for 29,28,000 equity shares and others for 24,000 equity shares.
The Retail Individual Investors(RIIs) portion received bids for 88,16,000 equity shares. Out of the above, subscription for 17,68,000 equity shares were at Cut Off price and the balance of 70,48,000 equity shares were through price bids.
The company came out with Public issue of 18,00,000 Equity Shares (including Market Maker reservation portion of 92,000 equity shares) at a fixed price of Rs 29. The Face Value of each share is Rs. 10.
Pantomath Capital Advisors Private Limited was the Book Running Lead Manager to the issue. Linkintime India Private Limited is the registrar to the company.