BSE takes action on SME listing-bound Trafiksol
The subscription window for the SME IPO concluded on September 12 with bids for 345 times the shares on offer, with a 317 times booking in the retail segment alone.
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In a rare action ahead of an SME listing, the stock exchange BSE imposed restrictions related to the utilisation of IPO proceeds by Trafiksol after receiving a complaint and postponed the entry into the secondary market.
"The listing of equity shares of Trafiksol ITS Technologies Limited for September 17, 2024 has been postponed till certain queries that have been raised are resolved by the issuer," BSE said in a notification.
The development comes mere hours before the scheduled listing of Trafiksol shares in the SME segment on Tuesday.
The subscription window for the SME IPO concluded on September 12 with bids for 345 times the shares on offer, with 317 times booking in the retail segment alone.
The IPO proceeds will remain in an escrow account until a satisfactory conclusion to the matter has been reached, according to the bourse.
Under the Rs 44.9-crore SME IPO, shares were available for bidding in the price band of Rs 66-70 per unit.
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