TBO Tek IPO: Issue subscribed 86.70 times on day 3, check GMP, subscription status and other details

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TBO Tek IPO day 3: GMP, subscription status to review. Should you apply? Ankush Nijhawan, Arjun Nijhawan, Manish Dhingra, and Gaurav Bhatnagar are the promoters of the company. TBO Tek Limited witnessed a significant growth in its profit after tax (PAT), soaring by 340.4%, and its revenue also surged by 112.09% between March 31, 2022, and March 31, 2023.

The TBO Tek IPO received 80,50,71,440 share applications against offered 92,85,816 shares on the last day of subscription. The public issue garnered a subscription rate of 52.46 times, with the retail portion of the book build issue being oversubscribed by 25.74 times. The NII portion witnessed a subscription of 50.60 times, while the QIB segment saw an overwhelming subscription rate of 125.51 times, as per BSE data.

Also read: TBO Tek IPO continues to see strong demand from retail, NIIs on day 2; issue booked 4.15 times. Check GMP The IPO comprises new issuance of 0.43 crore shares valued at ₹400 crores and an offer-for-sale segment of 1.25 crore shares valued at ₹1,150.81 crores. The price range for the issue was set between ₹875 and ₹920 per equity share with a face value of ₹1.

Conducted through the book-building process, up to 75% of the net issuance is designated for allocation to Qualified Institutional buyers proportionally, with 15% for non-institutional investors and at least 10% of the net issuance allocated proportionally to retail investors. Retail investors must apply for a minimum lot size of 16 shares, requiring a minimum investment of ₹14,720 to participate in the IPO. For Non-Institutional Investors (NIIs), the minimum lot size investment is 14 lots (equivalent to 224 shares), totaling ₹206,080, while for Big Non-Institutional Investors (NIIs), it's 68