Punjab, Oct. 20 -- The final numbers are in, and the gap is wider than it looked. Tonbo Imaging was oversubscribed 40.82 times. Zetwerk closed at about 1.07 times - a Rs 5,012 crore issue that just scraped past full subscription on its last day, with retail demand described as muted.
The two books
Tonbo Imaging, the defence electronics company, raised Rs 852.1 crore and was 40.82 times covered on day three. Listing is expected on 23 October.
Zetwerk priced at Rs 143 to Rs 151, valuing it at about Rs 25,583 crore at the top of the band, and raised Rs 2,251 crore from 99 anchor investors at Rs 151. Its public issue finished at roughly 1.07 times.
Both figures were intraday when first reported and have moved; the final ones are above.
Why...