Swastik Pipes IPO Gets Oversubscribed 1.33 Times

The IPO was launched on September 29 offering 62.52 lakhs equity shares of the face value of Rs 10 each share

Swastik Pipes’ initial public offering (IPO) on Monday, closed with an oversubscription of 1.33 times, in spite of negative sentiment on the stock market.

The company launched its IPO on September 29 offering 62.52 lakhs equity shares of the face value of Rs 10 each fully paid-up shares through the book-building process. The shares were offered through the book-building route at a price band of Rs 97-100 per share. The lot size of the IPO was 1200 shares.

The bid or offer that ended on October 3, is subscribed 1.35 times. The public issue subscribed 1.33 times in the retail category, and 1.37 times in the NII category. The finalisation of the share allotment date will be done on October 7, while its listing is on October 12.