Anlon Technology Solutions’ initial public offering to raise ₹15 crore with issue of 15 lakh shares has seen a massive subscription of 397 times, all categories of investors have shown tremendous interest in the issue. .
The IPO was subscribed 447.06 times in the retail category, 54.53 times in the QIB category, and 883.58 times in the NII category. Overall, the issue was subscribed over 397.97 times, according to NSE SME.
The retail portion of the issue received bids for 22.31 crore shares, while qualified institutional and non-institutional investors portion got subscription of 1.55 crore shares and 18.87 crore shares respectively.
Use of funds
It has announced a price band of ₹95-100 to mobilise ₹15 crore at the upper cap. The issue opened for subscription on December 29 and closed on Monday. The market lot is 1,200 shares.
The issue constitutes 26.76 per cent of the post-issue paid-up capital of the company. From the net proceeds of the IPO money, Anlon Technology Solutions (ATSL) will use ₹10.25 crore for the working capital, and general corporate purposes.
It has allocated 76,800 shares for the market maker, 710,400 (50 per cent) shares for QIBs, 2,13,600 (15 per cent) shares for HNIs, and 4,99,200 (35 per cent) shares for retail investors.
Product line
ATSL, which provides quality life-saving, life-cycle support and engineering services to high-end infrastructural projects, will be listed on NSE Emerge.
It caters to sectors such as aviation, petro chemicals, refineries, transport, energy and mines. The company provides engineering services, and designing, fabrication and installation services to their clients.