Rushil Decor Limited which had tapped the capital markets with its IPO for 56.43 lac shares in a price band of Rs 63-72 was subscribed. The issue was open from Monday the 20th of June to Thursday the 23rd of June. The company is in the business of making decorative laminates and particle board. It now plans to get into the business of manufacturing MDF (Medium Density Fibre) board. The issue received poor support from QIB’s and was undersubscribed in the category while HNI portion was subscribed. It was the retail category which was oversubscribed 6.57 times and helped the overall issue get subscribed 2.62 times.

The details of the subscription level in various categories are given below: –

There have been some recent successes in small cap companies on speculative interest which seem to have fired the imagination of retail investors and led them to apply in large numbers. One only hopes that there confidence is maintained as companies without fundamentals end up with a similar fate after some time.