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The Initial Public Offering (IPO) of Trafiksol ITS Technologies was subscribed over 70 times on the second day of bidding
The IPO received bids for 13.41 crore shares against the offer size of 19.09 lakhs shares
The retail portion of the IPO was subscribed 3.01 times, while the qualified institutional buyers (QIBs) portion was subscribed 170.01 times. Non-institutional investors part was subscribed about 15 times.
The IPO comprises a fresh issue of equity shares and an offer for sale by the existing shareholders of the company.
The price band for the IPO was fixed at Rs 542-552 per share. The company plans to utilize the net proceeds from the fresh issue for repayment/prepayment of certain borrowings, funding working capital requirements, capital expenditure and general corporate purposes.
Trafiksol ITS Technologies is a provider of integrated technology solutions for traffic management, tolling, and ITS (Intelligent Transportation Systems) in India. The company's solutions include traffic signaling systems, traffic management systems, electronic toll collection systems, and ITS software and hardware solutions.
The company's clients include government agencies, municipal corporations, and private sector companies. Trafiksol ITS Technologies has a pan-India presence and has executed projects in over 50 cities across the country.
The company's revenue for the financial year 2022 was Rs 250.80 crore, and its profit after tax was Rs 20.64 crore.
The IPO was managed by ICICI Securities, IIFL Securities, and SBI Capital Markets.
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