Tech Mahindra IPO price fixed at Rs 365 per equity share

Mumbai, Aug 7 (UNI) Tech Mahindra has fixed the issue price of its recently launched IPO at upper end of the price band at Rs 365 per equity share, a Company release here said.

The IPO of 12,746,000 equity shares of Rs 10 each, consisting of a fresh issue of 3,186,480 equity shares and an offer for sale of 9,559,520 equity shares by Mahindra and Mahindra Ltd and British Telecommunication Plc (of the issue, 1,158,790 equity shares were reserved for eligible employees), which opened for subscription on August 1, closed for subscription on August 4.

The issue was oversubscribed 71.59 times and the QIB portion was oversubscribed 103.92 times. The HNI category was oversubscribed by 140.94 times and the retail category was oversubscribed by 7.68 times, the release said. The issue received over 1.93 lakh bids.

The issue constituted eleven per cent of the post issue paid up capital of the Company and the net issue constituted 10 per cent of the post issue capital. The price band for the issue was Rs 315 at lower end to Rs 365 at the higher end. The equity shares would be listed on BSE and NSE.

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