Storage Technologies and Automation SME IPO subscribed 2.76 times on Day 1

The SME IPO (Initial Public Offering) of Storage Technologies and Automation Limited was subscribed 2.76 times on the first day of bidding.
The issue received bids of 75,88,800 shares against the offered 27,50,400 equity shares, at a price band of ₹76-78, according to the data available on the SME platform of BSE.


Retail Portion was subscribed 4.99 times, Non-Institutional Investors Portion was subscribed 1.63 times, whereas Qualified Institutional Buyer Portion subscribed 0.02 times. The issue kicked off for subscription on Tuesday, April 30, 2024 and will close on Friday, May 03, 2024.
OneView Corporate Advisors Private Limited is the sole book-running lead manager and Integrated Registry Management Services Private Limited is the registrar to the issue. The equity shares are proposed to be listed on SME Platform of BSE Limited.
Storage Technologies and Automation Limited was incorporated in the year 2010 by its promoter Mr. Mohammed Arif and Mr. Khasim Sait with experience of around, 13 years and 13 years in the storage racking system industry.