Stock broking firm Indo Thai Securities ' initial public offering has managed to get fully subscribed, supported by retail investors.
The issue has subscribed 1.1 times (as per data available on NSE website), with receiving bids for more than 43.96 lakh equity shares as against issue size of 40 lakh shares.
Company intends to spend IPO money of Rs 33.6 crore (at higher end of price band of Rs 70-84 a share) for expansion and upgradation of existing branches and setting up branch network (with an outlay of Rs 2 crore), purchasing of office space for Mumbai regional office (with cost of Rs 4 crore), purchasing and setting up of office space for corporate office (with Rs 4 crore), brand building and advertising (Rs 3 crore) and augmenting long term working capital requirement (Rs 10 crore).
