Pradip Overseas Limited which had tapped the capital markets with a public issue in a price band of Rs 100-110 received excellent response on the last day. The issue was oversubscribed over 14 times.   The issue was for 106 lakh shares and included an employee reservation of 5 lac shares.

Pradip Overseas Limited has set a record in being one of the only issues since the heady days of January 2008, which was oversubscribed on day one in all the three categories of QIB, Retail and HNI. I believe the revival of the textile sector and the pricing are the two main factors responsible for the kind of support the issue garnered.