Record Demand: SAR Televenture’s IPO Subscribed 267 Times on Final Day

SAR Televenture IPO Attracts Massive Response, Subscribed 267 Times on Final Day; Baba Food Processing and Micropro Software Solutions IPOs Show Strong Start on Day 1

The initial public offering (IPO) of SAR Televenture witnessed an overwhelming demand from investors, with the subscription soaring to a staggering 267 times on the final day of bidding. Simultaneously, Baba Food Processing and Micropro Software Solutions made a strong debut in the stock market, with both issues being fully subscribed on their first day of opening.

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SAR Televenture, a telecom and information technology solutions provider, managed to generate massive investor interest. The company’s IPO received bids for a whopping 15.25 crore shares against the issue size of 32.28 lakh shares. Non-institutional investors showed exceptional enthusiasm by subscribing 715 times, while retail investors eagerly lapped up their portion, booking it 222 times over. Qualified Institutional Buyers (QIBs) were equally keen on the offering, subscribing 77 times their allotted quota. The price band for SAR Televenture’s IPO was set at Rs 52-55 per share. The subscription period began on November 1 and concluded on November 3.

Meanwhile, Baba Food Processing’s public offering, which opened for subscription on November 3 and will remain open until November 7, also garnered robust investor interest. The company’s price band for the IPO was established at Rs 72-76 per share, and it was subscribed 2.82 times on the first day. Retail investors displayed strong participation, with their bids exceeding the allotted quota by 3.72 times. Non-institutional investors subscribed 1.29 times, and QIBs subscribed 1.66 times their allotted quota.

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Micropro Software Solutions, a software solutions provider, also reported significant demand on the first day of its IPO, which remains open until November 7. The issue was subscribed 1.88 times overall, with retail investors showing particular interest by subscribing 3.6 times their allotted quota. Non-institutional investors subscribed at a rate of 0.35 times the allocated quota. The price for Micropro Software Solutions’ IPO was set at Rs 81 per share.

The overwhelming response to SAR Televenture’s IPO on the final day of bidding and the successful subscription of Baba Food Processing and Micropro Software Solutions on their opening day demonstrate the strong investor appetite for small and medium enterprises (SME) IPOs in the market. These developments bode well for these companies as they look to further expand and grow in the coming years.

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