3C IT Solutions IPO booked 79% on day 1, retail portion fully subscribed: Check price band, lot size, allotment status and other details

3C IT Solutions and Telecoms Ltd IPO was subscribed 79% on the first day of subscription on Tuesday, June 4. The initial public offer is open for subscription till June 7.

The ₹11.44-crore fixed price of 3C IT Solutions and Telecoms Ltd IPO received bids for 16.54 lakh shares compared to the 20.88 lakh shares offered to public investors, as per the BSE data.

Retail investors placed bids for 14.22 lakh shares compared to the 10.44 lakh shares reserved for the category, leading to a subscription of 1.36 times. The non-institutional investors’ (NIIs) placed bids for 2.28 lakh shares, compared to the 10.44 lakh shares reserved for the category, booking the portion by 22% on the first day of bidding.

The qualified institutional buyers (QIBs) placed bids for 4,000 shares, the BSE data showed.

3C IT Solutions & Telecoms IPO aims to raise ₹11.44 crore through a fresh issue of 17 lakh shares amounting to ₹8.84 crore and an offer-for-sale of 5 lakh shares amounting to ₹2.6 crore.

The registrar for the 3C IT IPO is Skyline Financial Services Private Ltd, the book running lead manager for the issue is Kreo Capital Private Limited. The market maker for the public issue is Shreni Shares.

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3C IT Solutions & Telecoms IPO dates

3C IT Solutions & Telecom IPO subscription window is open from June 4 to June 7. The IPO share allotment status is expected to be finalised by June 10. Transfer of shares to the Demat accounts of successful bidders will be done by June 11 and the refunds for non-allottees will be initiated the same day.

Shares of 3C IT Solutions & Telecoms are likely to make their debut on the BSE SME platform on Wednesday, June 12.

3C IT Solutions & Telecoms IPO price and lot size

3C IT Solutions & Telecoms IPO price has been fixed at ₹52 per share. The retail investors can bid for a minimum investment of 1 lot comprising 2,000 shares, which aggregates to an application amount of ₹1,04,000. The high net worth individuals (HNIs) need to bid for minimum two lots of 4,000 shares, translating to an application amount of ₹2,08,000.

3C IT Solutions and Telecoms IPO objective

The company plans to use the money raised via the IPO for funding the working capital requirements of the company, the repayment of certain borrowings and for other general corporate purposes.

About 3C IT Solutions and Telecoms Limited

3C IT Solutions & Telecoms Ltd, incorporated in 2015, is an IT systems integration company. The firm offers IT products and services under 3 segments of infrastructure solutions, digital business solutions and consultancy.

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