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Thinksoft revises IPO price band

Earlier closure date was Thursday, September 24, 2009

September 25, 2009 10:55 IST | India Infoline News Service

Poor response from investors forced the book running lead manager to the initial public offering (IPO) of Thinksoft Global Services Ltd. to extend the closing date to October 1 from September 24.

Furthermore, Karvy Investor Services revised the IPO price band lower from Rs120-130 per share to Rs 115-125 a share.

As at 4:00 pm Friday, the issue had received bids for 23,02,600 shares as against the offering of 36,46,000 shares, that is 0.63 times the issue. Total bids received at cut-off price were 16,00,150.

ICRA has rated the issue IPO Grade 2.

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