Timbor Home IPO subscribed over 5.78 times

The IPO of Timbor Home, a manufacturer-retailer having a pan-India presence with more than 80 exclusive stores of kitchen, has received tremendous response from investors on last day.

The issue has subscribed 5.78 times, as per data available on NSE. It has received bids for more than 2 crore equity shares as against issue size of 36.9 lakh equity shares. Retail investors were the leading participants in the issue. Their portion was subscribed 14.22 times, with receiving bids for more than 1.8 crore shares as against reserved portion of 12.9 lakh shares. Non-institutional investors and qualified institutional buyers' reserved portion was subscribed 3.22 times and 0.65 times, respectively. The company aims to raise Rs 23.25 crore through the issue at higher end of price band of Rs 54-63 a share.