Trafiksol ITS Technologies IPO Listings: Shares of Trafficsol ITS Technologies Limited were to be listed on the Bombay Stock Exchange (BSE) today on 17 September. However, now suddenly the listing of this stock has been postponed. Confirming this news, BSE posted on X (earlier Twitter) that the listing has been postponed for the time being due to some unresolved questions related to the company. The BSE statement said, “The listing of equity shares of Trafiksol ITS Technologies Limited was scheduled for September 17, 2024, but it has been postponed till the questions raised are resolved. Market participants are requested to keep this in mind.”
However, the exact reason behind this postponement of listing has not been revealed yet. This has created confusion among IPO investors.
Trafficsol ITS Technologies brought its IPO through the SME route. It received a tremendous response among investors. This IPO was open for bidding between 10 to 12 September 2024. Its price band was fixed at Rs 66-70 per share. On the last day, this IPO closed with a huge subscription of 345.65 times.
The company had put a total of 42.66 lakh shares for sale through its IPO, in return for which it received bids for about 147.45 crore shares. The company received the highest bid in the NII (Non Institutional Investors) category, who subscribed about 699.40 times the shares reserved for them. At the same time, this IPO was subscribed 317.66 times by retail investors. While QIB (Qualified Institution Buyers) bid 129.22 times more for the shares reserved for them.
Trafficsol ITS Technologies raised a total of Rs 45 crore through its IPO. The company said that it will use this money to purchase software, repay some or all of its borrowings, meet working capital requirements and other general corporate purposes.
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