Beacon Trusteeship’s initial public offering received overwhelming response from investors as they bought 167.7 crore equity shares, which is 432.46 times higher than the offer size 38.78 lakh shares on May 30, the final day of bidding.
Non-institutional investors topped the list, buying 781.5 times the allotted quota, while retail investors were at the second spot, picking 502.2 times the portion set aside for them. Qualified institutional buyers booked 163.5 times the reserved portion.
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Beacon is a debenture trustee offering trustee services in various segments such as Debenture Trustee, Security Trustee, Trustee to Alternate Investment Fund (AIF), Trustee to ESOP, Securitization Trustee, Bond Trusteeship, and Escrow Services.
The company launched its Rs 32.52-crore public issue on May 28, with a price band at Rs 57-60 per share. The IPO was a mix of fresh issue of 38.72 lakh equity shares worth Rs 23.23 crore at the upper price band, and an offer-for-sale of 15.48 lakh shares worth Rs 9.29 crore.
The Mumbai-based company, currently managed by group of professionals, will finalise the basis of allotment of IPO shares by May 31. Successful investors will receive equity shares in their demat accounts by June 3.
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Its shares will be available for trading on the NSE Emerge platform effective June 4.
Meanwhile, the Rs 37.30-crore public issue of Z-Tech (India) was subscribed 48.90 times on the second day of bidding. The IPO, comprising of solely fresh issue, opened for subscription on May 29, and will close on May 31.
Z-Tech designs civil engineering products. It also provides state-of-the-art specialty geo-technical solutions for infrastructure and civil construction projects.
Furthermore, the initial share sale of Aimtron Electronics was fully subscribed on its first day of bidding. Investors bought 81.5 lakh equity shares, which is 2.11 times higher than the offer size of 38.68 lakh equity shares.
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Aimtron, which provides products and solutions for electronics system design and manufacturing (ESDM) services, is planning to raise Rs 87.02 crore through its maiden public issue of 54.04 lakh equity shares.
The Associated Coaters IPO also opened for subscription on Thursday, subscribing 8.8 times. Investors put in bids for 37.12 lakh equity shares as against the IPO size of 4.22 lakh shares.
The company, which provides services of pre-treatment and powder coating of aluminium extrusions in architect and real estate industry intends to mobilise Rs 5.1 crore via public issue.
