SAR Televenture FPO subscribed over 7 times on last day, check details

SAR Televenture FPO (SAR Televenture Ltd) subscription closed with a decent demand on the final day of bidding on Wednesday, July 24. The follow-on offer was booked 7.48 times with bids for 4.01 crore shares against the 53.62 lakh shares on offer.

The Non-Institutional Investors (NIIs) category drove the demand for the FPO by booking their portion 8.33 times. The NIIs segment received bids for more than 1.2 crore shares against 14.43 lakh shares reserved for the category.

SAR Televenture FPO was subscribed 6.51 times in the retail category with applications for over 1.62 crore shares against the 24.93 lakh shares set aside for the segment.

The Qualified Institutional Buyers(QIBs) applied for 1.18 crore shares compared to the 14.25 lakh shares reserved for the category. The FPO was subscribed 8.31 times in the QIBs category. The ₹150 crore book-building offer was open for bidding from July 22 to July 24. The FPO comprised an entirely fresh issue of 71.43 lakh shares.

SAR Televenture FPO price band was fixed at ₹200 to ₹210 per share. The minimum lot size to apply for the FPO for retail investors was 500 shares, aggregating to a minimum investment of ₹1,05,000.

SAR Televenture FPO allotment status, listing date

After successful subscription, SAR Televenture FPO allotment status is likely to be decided by Thursday, July 25. Subsequent to the allotment of shares, refunds will be initiated for unsuccessful bidders on Friday, July 26, and shares of SAR Televenture will be credited into the Demat accounts of successful bidders the same day. Shares of the telecom solutions provider are likely to list on the NSE SME platform on July 29.

About SAR Televenture

SAR Televenture, incorporated in May 2019, provides telecommunication solutions for network operators. SAR Televenture installs and commissions 4G and 5G towers, Optical Fibre Cable (OFC) systems and deals in network equipment.

The company has installed a total of 413 leased towers across various areas in West Bengal, Bihar, Uttar Pradesh, Chandigarh, Odisha, Jharkhand, Himachal Pradesh, Punjab, and Andaman and Nicobar Islands as on May 31, 2024.