The initial public offering (IPO) of Beacon Trusteeship is receiving strong interest from investors, with a total subscription of 66 times on the second day of bidding. The IPO, which closes on May 30, received bids for 25.7 crore shares compared to the 38.78 lakh shares available.
The IPO includes a mix of new shares and an offer for sale (OFS) of 54.2 lakh shares. Under the OFS, about 38.7 lakh shares will be sold by existing investors.
The company has set the price range at Rs 57-60 per share, with investors able to bid for 2,000 shares per lot and multiples thereafter.
The funds raised from the IPO will be used for upgrading technology infrastructure, investing in the wholly owned subsidiary Beacon Investor Holdings, purchasing new office space, and other general corporate purposes.
Beacon Trusteeship is a Sebi-registered debenture trustee offering various services such as debenture trustee services, security trustee services, alternate investment fund (AIF) services, ESOP, securitisation trustee services, bond trusteeship services, escrow services, and safekeeping.
The company is managed by professionals with extensive experience in investment banking, finance, debt syndication, and financial services.
Beeline Capital Advisors is the lead manager for the IPO, and Kfin Technologies is the registrar.
Meanwhile, Z-tech India’s IPO, which opened for subscription today, was subscribed over 8 times within a few hours of its launch.
The Z-tech India IPO is priced between Rs 104-110 per share, with investors able to bid for 1,200 shares per lot.
Z-tech India designs civil engineering products and services, specialising in geo-technical solutions for infrastructure and civil construction projects in India. The company also focuses on waste management, creating theme parks using recycled scrap materials.
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