Tirupati Inks FPO oversubscribed 1.11x

The follow-on public offer (FPO) of Tirupati Inks got oversubscribed 1.11 times.

The follow-on public offer (FPO) of Tirupati Inks got oversubscribed 1.11 times by the end of the third of issue on Thursday,with most of the bids coming in from institutional buyers.

The public issue,through which the company expects to raise Rs 51.5 crore,got total bids for over one crore shares against 97,53,658 equities on offer,as per the latest data available with the National Stock Exchange.

The issue was subscribed 1.78 times over in the portion reserved for qualified institutional buyers (QIBs),the NSE data showed. Today was the last date for QIBs to submit bids.

The issue closes on September 17 for retail and HNIs.

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The company — engaged in the business of printing ink and polyester films — has come out in the capital market with FPO priced in the range of Rs 41 to Rs 43 per share.

By the close of trade today,the issue was subscribed 33 per cent in the retail category and in the HNI portion 69 per cent,as per the NSE data.

On the other hand,tutorial services provider Career Point Infosystem’s IPO,that opened today,has been subscribed 5 per cent.

The Rs 115 crore issue of the Kota-based company will close on September 21.

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Meanwhile,the initial public offer (IPO) of media and entertainment firm Eros International Media Ltd will open tomorrow for subscription. The company is entering the market with its IPO priced between Rs 158 to Rs 175 per equity share to raise up to Rs 350-crore.

The issue proceeds will be used for acquiring and co-producing Indian films,including primarily Hindi language films as well as certain Tamil and other regional language films.

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