Indo Thai Securities has set its issue price at Rs 74

Share broking company Indo Thai Securities has set its issue price at Rs 74 a stock much less than its avg of the price band of Rs 70-84.

The IPO issue was subscribed 1.18 times (according to information seen on NSE web site), mainly supported by retail traders. Reserved part of retail traders subscribed over 3 times.

Indo Thai increased Rs 29.6 cr via the issue for development and upgradation of present branches and establishing branch network (with an expense of Rs 2 cr), buying of work space for Mumbai regional office (with price of Rs 4 cr), buying and establishing of office_space for corporate office (with Rs 4 cr), brand building as well as advertising (Rs 3 cr) and enhancing longterm working capital need (Rs 10 cr).

Equity stocks are planned to be listed on the Bombay Stock Exchange and NSE.

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