SME IPOs close with over-subscription on July 28

Total Transport Systems Limited, a small and medium sized enterprise launched its initial public offering on July 25, 2017. The IPO that closed on Friday, July 28, oversubscribed by 129.90 times.  

The IPO was of an aggregate size of 37,80,000 shares, with its price fixed at Rs 45 per share and has a face value of Rs 10 per share. The total bids received by the IPO stood at 491022000 shares as posted at 17:30 hrs IST on July 28, on the NSE. The minimum order quantity for the market lots were 3,000 equity shares, whereas the maximum subscription quantity for the retail investors was worth Rs 2,00,000.        
 
Adding to the strings of SME IPOs launched in the current year, another initial offering by an SME, Keerti Knowledge and Skills, has posted an oversubscription by 1.81 times. The IPO had opened on July 24, also closing on Friday, July 28. The total issue size of the IPO by Keerti Knowledge and Skills was 7,80,000 equity shares.

While the IPO price was set at Rs 52 per share, it had a face value of Rs 10 per share. The total bids received by the IPO stood at 1412000 shares at 17:30 hours IST on July 28, on the NSE. The minimum subscription quantity is one market lot of the IPO comprised of 2,000 equity shares, whereas the maximum subscription amount for the retail investor was Rs 2,00,000.