FDSL's IPO subscribed by 2.1 times at NSE's SME platform

The IPO of Fourth Dimension Solutions Ltd (FDSL), which closed for subscription on NSE's SME platform 'Emerge' on January 7, got subscribed by 2.1 times. The net issue offered to public was for 27.44 lakh equity shares which got subscribed 2.1 times amid the volatile market conditions, a company statement said as per the media report. FDSL is an information technology (IT) infrastructure, technical support services and operations outsourcing company. The company's public issue was for Rs 8.7 crore for 28.92 lakh equity shares at a price of Rs 30 per share. Out of total issue size, 1.48 lakh shares were reserved for subscription by market maker, PTI report said. FDSL is the last SME IPO of 2015 and the 12th listing on NSE Emerge. Sarthi Capital Advisors was the sole and lead manager to the issue. This is going to be 3rd listed company by Sarthi Capital on NSE Emerge and their 13th IPO on SME exchanges. The other upcoming IPOs on NSE Emerge by Sarthi Capital include Hitech Pipes and Wealth First Portfolio Managers.