Tirupati Inks Limited which had tapped the capital markets with an IPO to raise Rs 51.50 crs in a price band of Rs 41-43 was oversubscribed. The issue had opened on Tuesday the 14th of September and closed on Thursday the 16th of September for QIB’s and on Friday the 17th of September for HNI’s and retail investors.

These days there seems to be a new trend emerging where the issue which seems to have poor fundamentals is well received and subscribed. It then lists and trades at a substantial premium to the issue price and after a few days to a few weeks, slowly but surely slips to below issue price. This is becoming a trend or pattern and the number of people who get trapped in such issues post listing when it falls is increasing continuously.

Details of the subscription where the issue was oversubscribed 8.77 times are given below.