Thinksoft IPO closing extended to Oct 1, lowers price band

MUMBAI: Failure to garner sufficient subscription has forced the book running lead manager to the initial public offering of Thinksoft Global Services Ltd to extend the closing date to October 1 from the earlier September 24.

Further, Karvy Investor Services has revised the IPO price band lower from Rs 120-130 to Rs 115-125 per share.

As at 5:15 pm Thursday, the issue had received bids for 22,53,750 against the offering of 36,46,000, that is 0.62 times the issue. Total bids received at cut-off price were 15,68,550.

ICRA has rated the issue IPO Grade 2.