Mumbai-based IT services provider Unified Data-Tech Solutions' maiden public issue received decent response from investors, with the issue seeing a subscription of 5.03 times on May 23, the second day of bidding.
The company aims to raise Rs 144.47 crore via the public issue which is solely an offer-for-sale, of which, Rs 41.14 crore has been mobilised via anchor book on May 21 by allotting 15.06 lakh shares to institutional investors at Rs 273 per share.
Investors have subscribed for 1.9 crore equity shares compared to the offer size of 37.85 lakh shares.
Retail investors maintained leading position in the subscription numbers, bidding 7.36 times their allotted quota, while non-institutional investors, and qualified institutional buyers picked 3.57 times and 2.43 times their reserved portions.
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Since it is an offer-for-sale issue, the company will not receive any money from the public issue and all the IPO funds will go to selling shareholder Hiren Rajendra Mehta, the promoter.
The public issue will close on May 26. Hem Securities is acting as the merchant banker for Unified Data- Tech Solutions IPO.
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