Tecpro Systems IPO hits capital markets

The Initial Public Offering (IPO) of Tecpro Systems Limited opened for subscription by investors today - September 23, 2010. The company has come out with Public issue of 7550,000 equity shares of Rs. 10/- each.(including anchor portion of 13,23,000).

The equity shares are priced in a price band of Rs 340 to Rs 355 through 100% book building process. The Minimum Order Quantity is 15 Equity Shares and in multiples of 15 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

SBI Capital Markets Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the IPO. SBICAP Securities Limited and Kotak Securities Limited are the Syndicate Members.

The Rating Agency CRISIL has awarded IPO Grading of IPO Grade 4.

Link Intime India Private Limited is the registrar to the company. The IPO closes for subscription on Sep 28 2010. For QIB bidders Issue closes on Sep 27, 2010.

The IPO has received subscription of 0.01 times at the end of first day. The issue received total bids for 41295 equity shares against the offer of 6227000 equity shares. The issue received bids for 37470 equity shares at cut-off price.

Source : Equity Bulls

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