Transteel Seating Technologies Limited, a Bangalore-based furniture company, has finalized the allotment status for its ₹49.98-crore ($670,000) initial public offering (IPO). The information is now available for investors to review on the portal of Bigshare Services Pvt Ltd as of Friday.
The IPO, which concluded on November 1, was oversubscribed by 49.21 times overall. The retail category saw a subscription of 39.82 times, Qualified Institutional Buyers (QIB) subscribed 12.15 times, and non-institutional investors (NII) recorded a high of 122.88 times.
The offering consisted of a fresh issue worth ₹47.49 crore and an offer for sale (OFS) worth ₹2.49 crore. Shares were priced between ₹67 to ₹70 per share with a minimum investment of ₹140,000 and a lot size of 2,000 shares.
The IPO has also generated interest in the grey market where shares are trading at a premium of ₹12 per share, indicating that they are trading above their issue price.
Transteel Seating Technologies' shares are due to be listed on the NSE SME platform by Wednesday, November 9.
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