Thinking Hats Entertainment Solutions Ltd.’s initial public offering received more than 300 applications on Friday’s final bidding day, driven by demand from non-institutional investors.
The application ratio for SME IPOs was 67.22 times on Thursday, the second day of bidding, and 17.31 times on Wednesday.
According to market tracking site Chittorgarh, the Thinking Hats Entertainment Solutions IPO received bids of 1,04,67,99,000 shares against the offer of 3,249,000 shares. The Non-Institutional Investors (NII) category has 356.81 subscriptions, while Retail Individual Investors have subscribed to this stock 347.64 times.
The NSE SME offering was an all-new issue of 34.29 million shares aimed at raising Rs 1,509 crore. The company has fixed the IPO price band in the range of Rs 42 to Rs 44 per share. Retail investors can participate in Thinking Hats Entertainment Solutions’ IPO with a minimum lot size of 3,000 shares and a total investment of Rs 1,32,000.
The share allocation is expected to be completed on September 30th. The company is expected to debut on the NSE SME platform by October 3. Investors who bid on this issue can check their allocation status at Mas Services Ltd.