New Delhi, May 12 -- The initial public offering (IPO) of Simca Advertising, which entered its last day of bidding today, 12 May, has seen a strong demand from investors so far. The SME IPO is also tracking attention in the grey market, the latest trends show.

The offer by the advertising agency had opened for bidding last Friday, 8 May, looking to raise Rs.58.04 crore from investors. The offer is entirely a fresh issue of shares priced at Rs.174 to Rs.183 apiece.

Investors can apply for the offer in lots of 600 shares. For retail investors, the minimum investment is two lots amounting to Rs.2,19,600.

The company plans to use the proceeds from the share sale for the purchase and installation of LED scenes, funding strategic collaborati...