This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEB9606Q_M.jpg
The Initial Public Offering (IPO) for SAR Televenture was open for subscription from November 1 to November 3 and was oversubscribed 267 times by non-institutional, retail, and qualified institutional investors. The company set the IPO’s price band at ₹52-55 per share, with a minimum bid requirement of 2,000 shares. The public issue raised ₹24.75 crore ($3.34 million), with an issue size of 32.28 lakh shares but received bids for an astounding 86.38 crore shares.
SAR Televenture has reserved half of the public issue for Qualified Institutional Buyers (QIB), at least 15% for Non-Institutional Investors (NII), and a minimum of 35% for retail investors. The IPO consists entirely of a fresh issue of 4,500,000 equity shares with no offer-for-sale component.
The proceeds from the IPO will be utilized to finance the installation of 5G/4G towers, repay some outstanding borrowings, meet working capital needs, and other corporate purposes. SAR Televenture specializes in providing telecommunication solutions to network operators that include the installation of 4G and 5G towers, Optical Fibre Cable Systems, and network equipment.
M.G. Metalloy Private Limited is the promoter of the IPO while Pantomath Capital Advisors Pvt Ltd managed the issue. Skyline Financial Services Private Ltd acted as the registrar, and RK Stock Holding served as the market-maker for this IPO.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
