SME IPO Tracker: Infollion Research offer subscribed 182 times; Comrade Appliances issue subscribed 21% so far on Day One

Comrade Appliances and Sahana System have opened their initial public offerings (IPOs) for subscription today, while Infollion Research Services’ IPO is closing today. Comrade Appliances’ IPO was subscribed 21% on day one, with the retail category doing well with a 45% subscription, while Sahana System’s IPO was subscribed 22% on day one. The net proceeds from both IPOs will be used for working capital requirements and general corporate purposes. Infollion Research’s IPO was subscribed by 182% so far, and the company plans to raise up to INR 21.45 crore ($3.06 million) at the upper end of the price band at Rs 80-82 per equity share.