There is great news for investors who have received the allotment of TBO Tech IPO. TBO Tech shares were listed on Wednesday with a premium of 55 percent. That means the stock has made a strong start. TBO Tech’s share price opened at Rs 1,426 per share on NSE, 55% higher than the issue price of Rs 920. Share price of TBO Tech opened at Rs 1,380 per share on BSE today, which is 50% higher than the issue price. However, experts believed that the share price of TBO Tech would open between Rs 1,360 to Rs 1,400 per share.
Share price at 10:55 am
Shares of TBO Tech were trading at Rs 1350.05 on BSE. Whereas on NSE it was seen trading at the level of 1,350.65. In the IPO, each lot was fixed at 16 equity shares. The IPO has set aside 75% of the net offer for QIBs, 15% for NII and 10% for retail investors. Employees had reserved equity shares worth up to ₹3 crore.
IPO received 86.70 times subscription
According to the news, National Stock Exchange (NSE) data says that the initial public offering of TBO Tech was subscribed 86.70 times on the last day of subscription. Of these, the section allotted for qualified institutional buyers (QIBs) received 125.51 times subscription, but the non-institutional investor group received 50.60 times subscriptions. While the retail individual investors (RII) segment was subscribed 25.74 times. The price band of TBO Tech IPO was fixed between ₹875 to ₹920.
In the IPO, each lot was fixed at 16 equity shares. The IPO has set aside 75% of the net offer for QIBs, 15% for NII and 10% for retail investors. Employees had reserved equity shares worth up to ₹3 crore.
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