SAR Televenture IPO booked 267 times on final day; Baba Food, Micropro fully subscribed on Day 1
The initial public offering (IPO) of SAR Televenture was subscribed 267 times on the final day of bidding on Wednesday, November 5, 2023. The company had offered 32.28 lakh shares for bidding, but received bids for 15.25 crore shares.
The IPO received strong demand from all categories of investors, with non-institutional investors subscribing at a rate of 715 times, retail investors at 222 times, and qualified institutional buyers (QIBs) at 77 times. The shares were offered in the price band of ₹52-55.
The strong response to the SAR Televenture IPO is a reflection of the bullish sentiment in the Indian stock market and the growing demand for shares of companies in the technology sector. SAR Televenture is a leading provider of telecom infrastructure and services to telecom operators and enterprises.
In addition to SAR Televenture, two other IPOs that opened on November 3, 2023, Baba Food Processing and Micropro Software Solutions, were also fully subscribed on Day 1. The Baba Food Processing IPO was subscribed 2.82 times, while the Micropro Software Solutions IPO was subscribed 1.88 times.
The strong demand for all three IPOs is a positive sign for the Indian IPO market, which has been relatively subdued in recent months. It is also a reflection of the growing interest of investors in small and medium-sized enterprises (SMEs).