Takyon Networks, Mehul Colours IPOs receive healthy response; BD Industries issue sees tepid demand on final day

Takyon Networks, Mehul Colours IPOs

Takyon Networks, and Mehul Colours' public issues received healthy response from investors, but the demand for B D Industries IPO was tepid on August 1, the final day of bidding.

All these initial public offerings (IPOs) opened on July 30.

IT solutions provider Takyon Networks' initial share sale was subscribed 20.35 times with investors buying 5.54 crore equity shares against the offer size of 27.24 lakh shares via 7,762 applications.

Non-institutional investors led the charge, bidding 27.64 times their allotted quota. The part set aside for retail investors, and qualified institutional buyers were subscribed 20.08 times, and 13.29 times, respectively.

The Uttar Pradesh-based digital transformation services provider is raising Rs 20.48 crore via public issue of 37.92 lakh shares. These funds will be utilised mainly for working capital requirements, and repaying debt, besides the use for general corporate purpose.

The price band for the book-building offer was Rs 51-54 per share.

Masterbatches maker Mehul Colours' IPO saw 7.5 times subscription in the last three days with investors applying for 1.61 crore shares compared to the issue size of 21.53 lakh shares via 1,466 applications.

Qualified institutional investors were at the forefront to support the issue with their portion being subscribed 13.54 times. The reserved part of non-institutional and retail investors were booked 8.32 times, and 3.59 times, respectively.

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The Mumbai-based company approached capital markets to mobilise Rs 21.66 crore via entirely fresh issue with price band of Rs 68-72 per share. These IPO funds will be used for setting up a new manufacturing facility, working capital requirements, and general corporate purpose.

The maiden public issue of B D Industries (Pune) that makes plastic components for automotive and industrial applications closed with 1.75 times subscription with investors subscribing for 52.63 lakh shares compared to the IPO size of 30.04 lakh shares via 875 applications.

Non-institutional investors bid 2.96 times their reserved portion, while the allotted quota of retail investors and qualified institutional buyers saw 1.32 times and 1.27 times subscription.

The company is raising Rs 45.36 crore through its initial share sale of 42 lakh shares at the upper price band, which will be used for debt reduction, working capital requirements, investment in subsidiary, and general corporate purpose.

All these three companies will finalise their IPO share allotment by August 4. The trading in their shares will commence on the BSE SME effective August 6.