Receives overwhelming response from HNI’s and Retail

Technofab Engineering Limited which had tapped the capital markets with its maiden IPO received overwhelming support. The company had launched its IPO between the 29th of June and the 2nd of July for 29.9 lakh shares in a price band of Rs 230-240. The company would be raising between Rs 68.77 crs to Rs 71.76 crs.

Post the QIB’s having to pay 100% of the subscription amount there is a change in the subscription pattern and it appears that they have reduced their subscription levels having to pay 100%. The HNI category and retail categories received excellent response.