Thejo Engineering Limited an SME offering which had tapped the capital markets with its IPO in a price band of Rs 402-430 was subscribed. The issue was open between Tuesday the 4th of September and Thursday the 6th of September. The issue was for Rs 19.01 crs and included a firm allotment of Rs 50 lakhs to the market maker. The issue was oversubscribed 1.53 times with the oversubscription coming from the retail category which individually was subscribed 2.61 times. There were about 1400 applications in the retail category.

Performance of Newly Listed Shares as on 8th September 2012

Considering that the overall issue has been oversubscribed only in the retail category it would be assumed that the discovered price would be towards the lower end of the price band if not the lower end itself. The same would be announced probably by Monday.