Fri Oct 25 07:59:24 UTC 2024: **Summary of OBSC Perfection IPO News Article:**

– **IPO Details:** OBSC Perfection Limited’s IPO aims to raise ₹66.02 crore through a fresh issuance of 66.02 lakh equity shares. The price range is set between ₹95 and ₹100 per share.

– **Subscription Timeline:** The IPO is open for subscription from October 22 to October 24, with shares scheduled to list on the NSE SME platform on October 29.

– **Investor Response:** On the first day of bidding (October 22), the IPO received a lukewarm response, being 77% subscribed. It attracted bids for 33.64 lakh shares against 43.89 lakh shares available for subscription.

– **Category Subscriptions:**
– **Retail Investors:** 65% subscribed with bids for 14.18 lakh shares vs. 21.94 lakh shares available.
– **Non-Institutional Investors (NIIs):** Only 15% subscribed, with bids for 1.46 lakh shares vs. 9.4 lakh shares available.
– **Qualified Institutional Buyers (QIBs):** Subscribed 1.43 times with bids for 18 lakh shares against 12.55 lakh shares reserved.

– **Investment Requirements:** Retail investors are required to invest a minimum of ₹1,20,000 for one lot of 1,200 shares, while high-net-worth individuals (HNIs) need to invest at least ₹2,40,000 for two lots.

– **Use of Funds:** The funds raised will primarily be used for capital expenditure, purchasing machinery for their Unit III in Tamil Nadu, and investing in their Unit IV in Pune. Additional funds will support working capital needs and corporate expenses.

– **Company Profile:** OBSC Perfection, established in 2017, specializes in precision metal components for various industries, including automotive, defense, marine, and telecom, operating four manufacturing facilities in Maharashtra and Tamil Nadu.

– **Important Dates:**
– **Allotment Status:** Expected by October 25.
– **Funds Refunds:** Processed on October 28 for non-allottees.
– **Share Listing:** Scheduled for October 29.

The article outlines the IPO’s objective, current subscription status, investment details, use of proceeds, and company background, highlighting a mixed investor response on the opening day.

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