Timbor Home Limited which had tapped the market with its IPO for 36.9 lac shares in a price band of Rs 54-63 received excellent response and was oversubscribed 5.78 times. The company had tapped the capital markets and its issue had opened on Monday the 30th of May and closed on Thursday the 2nd of June. The company through this issue would be raising Rs 23.25 crs at the upper end of the price band.
Retail investors were big investors in the issue and the same was subscribed 14.22 times.
The details of the subscription level in various categories are given below: –
| Category | Shares Offered | Shares Subscribed | Times |
| QIB | 1845000 | 1195100 | 0.65 |
| NII | 553500 | 1783100 | 3.22 |
| Retail | 1291500 | 18361200 | 14.22 |
| Overall | 3690000 | 21339400 | 5.78 |
This is a good start to a modular kitchen and furniture manufacturing company based in Gujarat. The company has currently 90 franchisee and owned stores for the sale of its products. The proceeds from this IPO would allow the company to create additional facilities and also add to the number of stores. One would hope that the confidence of the retail investor is kept intact in the greater interest of the investor and the capital markets.
