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Indo Thai Securities sets issue price at Rs 74/share
Stock broking firm Indo Thai Securities has fixed issue price at Rs 74 a share - less than the average of the price band of Rs 70-84 - for its initial public offering of 40 lakh equity shares.
Stock broking firm Indo Thai Securities has fixed its issue price at Rs 74 a share much lower than its average of the price band of Rs 70-84.
The issue was subscribed 1.18 times (as per data available on NSE website), solely supported by retail investors. Reserved portion of retail investors subscribed more than three times.
Indo Thai raised Rs 29.6 crore through the issue 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).
Equity shares are proposed to be listed on the BSE and NSE.
