The Hindu Business Line : Take Solutions IPO subscribed 63 times

Chennai, Aug 7 Take Solutions Ltd’s initial public offering has been over subscribed 63.25 times. The company put 21 lakh shares on offer, through the book building route and the price band fixed was Rs 675-Rs 730 a share.

Subscription received from qualified institutional buyers (QIBs), for whom 12 lakh shares were reserved, was 75.27 times the portion reserved.

Six lakh shares were earmarked for retail investors; subscription received was 24.07 times the block reserved.

High net worth individuals, for whom two lakh shares were set apart, subscribed 108.67 times. The other one lakh shares were reserved for employees.

In all, the issue received 165 lakh applications.

Chennai-based Take Solutions is an IT company that has products in supply chain management and life sciences. Edelweiss Capital Ltd acted as the book running lead managers of the issue.

The Rs 180-crore company’s IPO is actually for 30 lakh shares. A month ago, the company sold 9 lakh shares to two private equity investors—Galleon Ventures and Passport Capital, at a price of Rs 625 a share, or for Rs 56.25 crore.

KPR Mill

The IPO of KPR Mill managed to get full subscription. It received bids for 70.33 lakh shares against offered quantity 59.12 lakh shares. About 6.57 lakh shares were tendered at cut-off price of Rs 225. The company fixed the price band at Rs 225-265.

While QIB portion was subscribed by 1.45 times and non-institutional investors 2.07 times, the retail portion got lower response of 0.39 times only.

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Take Solutions IPO subscribed 63 times