Thinksoft Global IPO subscribed 2.57 times

The initial public offering (IPO) of Thinksoft Global Services was subscribed 2.57 times as per the NSE website. The issue received total bids for 93,70,900 shares against its issue size of 36,46,000. The issue was scheduled to close on September 24 but was extended due to lukewarm response from investors. The company had also reduced its IPO price band to Rs 115-125 from Rs 120-130 per share.

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The issue had opened for subscription on September 22, 2009.

The IPO consisted a fresh issue of 13.5 lakh shares and an offer for sale of 22.96 lakh shares by Gibraltar-based fund, Euro Indo Investments.

Karvy Investor Services was the book running lead manager to the issue.