Technofab Engineering IPO garners splendid oversubscription on the closing day - Indian IPO Blog

Friday, July 2, 2010

Technofab Engineering IPO garners splendid oversubscription on the closing day

The IPO of Technofab Engineering IPO has been finally oversubscribed by a remarkable 12.78 times on an overall basis. The IPO has managed to garner a magnificent response from the HNI Category where bids are received for 21542825 Equity Shares as against 441000 Equity Shares reserved for the category, thus making it overbid by 48.85 times.

In comparison, the QIB Category has received bids for 6285325 Equity Shares as against 1470000 Equity Shares reserved, thus getting subscription of 4.28 times. The response from the Retail Category has also been wonderful with the Category getting overbid 10.03 times

Technofab Engineering IPO had opened for subscription from Tuesday, June 29, 2010. The Company engaged in the business of providing Engineering Procurement and Construction (EPC) services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects on a complete turnkey basis. Credit Rating Agency Fitch Ratings had assigned an IPO Grade 3/5 to the proposed Initial Public Offer (IPO) of Technofab Engineering Ltd. (Click here for more on Technofab Engineering IPO Rating)

More Posts on Technofab Engineering IPO:
- Technofab Engg IPO - Subscription Statistics
- Technofab Engineering IPO Final Subscription Status
- Techofab Engineering IPO oversubscribed more than 12 times
- Technofab Engineering IPO Bidding Status on Day 3
- Technofab Engineering IPO bid about 15% till Second Day
- Technofab Engineering IPO Details

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