On Thursday the Tirupati Inks follow-on public offer got oversubscribed by 1.11 times by the conclusion of the third of issue, with the majority of the bids swaying in from institutional buyers.

The company anticipates to raise Rs 51.5 crore through the public issue, which got entire bids for above one crore shares next to 97,53,658 equities on proposal, as per the most recent data accessible with the National Stock Exchange.

The issue was promised 1.78 times above in the segment set aside for qualified institutional buyers, the NSE statistics revealed. It was the last date today for QIBs to acquiesce bids. On Sep 17 the issue closes up for retail and HNIs.

The company which was engrossed in the business of polyester films and printing ink has emerged in the capital market with FPO with a price tag in the range of Rs 41 to Rs 43 per share.

As per the NSE data, today by the end of trade, the issue was promised by 33 per cent in the retail group and in the HNI segment 69 per cent.