Mumbai, May 9 -- The initial public offer (IPO) of TBO Tek received 3,85,31,952 bids for shares as against 92,85,816 shares on offer, according to stock exchange data at 17:00 IST on Thursday (9 May 2024). The issue was subscribed 4.15 times.

The issue opened for bidding on Wednesday (8 May 2024) and it will close on Friday (10 May 2024). The price band of the IPO is fixed between Rs 875 to Rs 920 per share. An investor can bid for a minimum of 16 equity shares and in multiples thereof.

The offer comprises fresh issue of equity shares worth up to Rs 400 crore and an offer for sale of 1,25,08,797 equity shares. The promoter stake, at 51.26%, will dilute post-IPO to 46.8%.

Out of the proceeds from the fresh issue, Rs 135 crore will be us...