Tirupati Inks FPO receives subscription of 3.24 times

The Follow-on Public Offering (FPO) of Tirupati Inks Limited received subscription of 3.24 times. The IPO opened for subscription on September 14, 2010 and closed for subscription on September 17 2010. For QIB bidders the IPO closed for subscription on September 16, 2010.

The IPO received subscription for 31641150 equity shares till 3:00 PM on September 17, 2010 against the offer of 9753658 equity shares resulting in a subscription of 3.24 times. The issue received bids for 16659000 equity shares at cut-off price.

The company has come with an FPO of 9753658 equity shares of Rs 10 each for cash at a price band of Rs 41 to Rs 43 through 100% book building process.

The Minimum Order Quantity was 150 equity shares and in multiples of 150 equity shares. The Maximum Subscription Amount for Retail Investor was Rs 100000.

Ashika Capital Limited is the Book Running Lead Manager to the FPO. Ashika Stock Broking Limited, Mangal Keshav Securities Limited and Guiness Securities Limitedand are the Syndicate Members for the FPO. Beetal Financial & Computer Services Private Limited is the registrar to the company.

Source : Equity Bulls

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