Tranway Technologies IPO overall subscribed 1.8 times

NEW DELHI: The initial public offer (IPO) of Bangalore-based IT Consulting and Emerging Technology firm Tranway Technologies was subscribed 1.88 times on the final day of the bidding process.

The IPO, which looked to raise Rs 4.20 crore, received bids for 79,60,000 shares against the issue size of 42,40,000 shares.

The category reserved for non-institutional investors subscribed 98 per cent. Retail individual investors' portion saw bids at 2.87 times. The issue was closed on Wednesday.


Tranway Technologies had fixed the price at Rs 10 per share. The issue comprised of a fresh issue aggregating up to Rs 4.24 crore.

Finshore Management Services was the Lead Manager for this issue.

Founded in 2015, Tranway Technologies is a provider of IT consulting services and emerging technology solutions. The company provides product development & support and IT & non-IT staffing solutions to enterprises. Its array of service supports business agility by offering fast, customised, seamless and hassle-free solutions.