In this article, we are going to look at the Transteel Seating Technologies IPO. Recently, its IPO share allotment was finalized. Now the company shares list with a 27% premium at Rs. 88.90 per piece on the National Stock Exchange SME. On 30 October 2023, Monday, the official Transteel Seating technologies IPO was opened for subscription, and then on 1st November 2023, Wednesday it closed. Then on 3rd November 2023, Friday, its IPO share allotment was been finalized. So now in this article, we are going to focus on the Transteel Seating IPO listing. Now read this article till the end without missing any single line.
Transteel Seating Technologies shares
Transteel Seating Technologies shares made a decent debut on the stock market on 6th November 2023, Monday. The shares of this company have been officially listed at Rs. 88.90 per piece on the National Stock Exchange (NSE) SME at a premium of 27% from the issue price of Rs. 70 per share. Transteel Seating Technologies IPO was opened for public subscription on 30th October 2023, Monday and then it closed on 1st November 2023, Wednesday. Then the official IPO share allotment was finalized on 3rd November 2023, Friday. The company IPO officially received a very great demand from the investors at the time of the bidding process.
The company IPO was subscribed to a total of 49.21 times. The public issue received a total of 22.46 crore equity shares if we compare it to 45.66 lakh equity shares on the offer. As per the reports, the SME IPO was subscribed by a total of 39.82 times in the retail category and it was subscribed by 12.15 times in the Qualified Institutional Investors (QIB) category. It was subscribed by a total of 122.88 times in the Non-Institutional Investors (NII) category. Transteel Seating Technologies has raised Rs. 49.98 crore from the IPO which has a great combination of the new issue of a total of 67.84n lakh equity shares as it is aggregating to Rs. 47.49 crore and its offer for sale is of Rs. 3.56 lakh shares which is aggregating to Rs. 2.49 crore.
The company IPO price band has been officially set at Rs. 67 to Rs. 70 per share and the company IPO lot size is 2,000 shares. The company has now officially raised Rs. 13.02 crore from the anchor investors which is ahead of the IPO. As we all know Transteel Seating Technologies is a well-known furniture company in the corporate and Buisness 2 Buisness sectors., This company has its manufacturing unit which is based in Karnataka, India.