Prizor Viztech IPO receives 5 times subscription on Day 1 so far; check key dates

The initial public offering (IPO) of security and surveillance solutions provider Prizor Viztech was oversubscribed five times on the first day of subscription.

The public offer, open from July 12 to July 16, has received bids for 97.52 lakh shares as against 20.96 lakh shares on offer on Day 1 so far.

The retail investors' portion saw the maximum subscription, receiving 8.66 times the bid. The non-institutional investors (NIIs) category was subscribed 3.49 times the allotted quota, while the qualified institutional buyers (QIBs) part is yet to see any traction.

The ₹25.15 crore IPO, which has set the price band at ₹82 to ₹87 per scrip, is a fresh issue of 28.91 lakh shares. Retail investors can bid for a minimum of one lot or 1,600 shares worth ₹1,39,200. High-net-worth individuals can apply for at least two lots, valued at ₹2,78,400.

Half of the issue is reserved for QIBs, 15% for NIIs and 35% for retail investors.

The proceeds generated from the fresh issue will be used to fund capital expenditure for setting up a display centre and inventory storage, to meet the working capital requirements and general corporate purposes.

Prizor Viztech IPO: Key dates

• Bidding dates: July 12 to July 16
• Allotment finalisation: July 18
• Refund initiation: July 19
• Demat transfer: July 19
• Listing: July 22

About Prizor Viztech

Prizor Viztech, established in 2017, provides security and surveillance solutions by offering a wide range of CCTVs used in retail, government, and education sectors.

With a footprint in 17 states and two union territories, the company's products include IP cameras, HD analog cameras, DVRs, NVRs, video management software, access control systems, time attendance systems, video door phones, and accessories.

In 2022, the company started offering different sizes and features of televisions, monitors and touch panels manufactured by third parties under their brand name.