CapitalNumbers Infotech IPO subscribed over 2.65 times on Day 1

CapitalNumbers Infotech IPO

The public issue of software development solutions provider CapitalNumbers Infotech was fully subscribed at 2.65 times with good participation from all categories of investors on January 20, the first day of bidding.

The company entered capital markets to raise Rs 169.37 crore via initial public offering of 64.4 lakh shares at a price of Rs 263 per share, the upper end of price band (of Rs 250-263 per share). The IPO consists of fresh issue and an offer-for-sale of 32.2 lakh shares worth Rs 84.69 crore each.

Investors booked 1.22 crore equity shares against the IPO size of 46.07 lakh shares via 18,231 applications, the subscription data published on the BSE showed.

The portion set aside for retail investors was subscribed 3.17 times and that of qualified institutional buyers 2.8 times. Non-institutional investors' part was booked 1.62 times.

Click Here To Read All IPO News

CapitalNumbers Infotech has already raised Rs 48.19 crore out of the total IPO size of Rs 169.37 crore, from anchor investors on January 17. It has allotted 18.32 lakh shares to several institutional investors including Copthall Mauritius Investment, WhiteOak Capital, HDFC Bank, Capri Global, Aarth AIF, Swyom India Alpha Fund, Visionary Value Fund, and Saint Capital Fund.

The company plans to utilise fresh issue proceeds for technical advancement of leading-edge technology, business developments, inorganic growth, investment in subsidiary, and general corporate purposes.

The IPO will close for subscription on January 22.

The CapitalNumbers Infotech IPO shares were available at around 50 percent premium over the upper price band in the grey market, as per the market observers. Investors look at grey market to know the expected listing price of the stock, though it is an unofficial market for trading in IPO shares till the listing.