NewsFatpipe Networks India which entered the capital markets with a first public offering (IPO) on June 7 has withdrawn its issue.
In spite of various efforts the company to get full subscription for the offer. The company had extended its public issue till June 14 from the earlier closing date of June 9. It had also altered price band to Rs 80-85 a share from the prior price of Rs 82-85.
The issue was subscribed just 0.88 times. Non-institutional investors reserved portion got subscribed 2.12 times followed by qualified institutional and retail investors. The company provides global corporations and government offices with technology that boosts the security and reliability of Wide Area Networks, Corporate extranets, Virtual Private Networks and all last-mile Internet connections, including wireless connectivity.
IPO News
Fatpipe Networks extracts IPO
Engineers India gets govt nod for disinvestment and stk up
Today State-run Engineers India said that the ministry of petroleum and natural gas has granted its sanction to the offer, relating disinvestment of 10% of paid-up equity share capital of the company by way of `offer for sale`.
This offer constitutes its stake worth 33.70 million equity shares in the company.
At the BSE, on Monday, at 9.54 am, shares of the company gained Rs 5.15, to trade at Rs 320.95. The total volume of shares traded was 66,986.
Report: Raheja Universal plans to raise Rs10bn via IPO
According to a report Raheja Universal Ltd is setting up to hoist about Rs10 bn in an IPO. Furthermore it adds that Raheja Universal plans to file share-sale documents to India’s capital markets regulator as early as next week.
The report stated that Citigroup Inc., Enam Securities Pvt., Kotak Mahindra Capital Co. and Morgan Stanley have been hired to arrange the sale.
Page 13 of 13
