Cantabil Retail IPO subscribed 2.35 times on final day

NEW DELHI: Cantabil Retail India's initial public offer got oversubscribed 2.35 times by the end of the issue on Monday, with a good demand coming in from non- institutional and retail investors.

The issue, which opened on September 22, got total bids for over 1.94 crore shares against 82,67,716 equities on offer, as per the latest data available with the NSE.

In the portion reserved for retail buyers, the issue was oversubscribed 2.63 times and in non-institutional category 3.83 times, NSE data showed. The QIB portion was subscribed 1.71 times.

Cantabil Retail India Ltd entered the capital markets on September 22 with its IPO of Rs 105 crore in a price band of Rs 127 to Rs 135 per share.

SPA Merchant Bankers is the sole book running lead manager to the issue.

Meanwhile, the IPO of Tecpro Systems -- a provider of material handling solutions -- got oversubscribed 14.17 times by the end of third day of issue today.

The IPO, which opened on September 23, closes tomorrow. Today was the last day for QIBs to bid for the issue.

In the portion reserved for QIBs, the public float was oversubscribed by a whopping 27.99 times, as per the NSE data. In retail category, the IPO got demands for 65 per cent and in HNI category 53 per cent.

The company has entered the capital market with a Rs 268 crore issue priced in the range of Rs 340 to Rs 355 a share. The firm is offering 7,550,000 shares.

Tecpro Systems Ltd (TSL) is engaged in providing turnkey solutions in material handling, ash handling, balance of plant (BoP) and engineering, procurement and construction contracts.