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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