EdServ IPO fully subscribed

EdServ Softsystems, which entered the capital market with an initial public offer (IPO) of 39,73,908 shares, is the first company to close the issue successfully since October 2008. The issue was subscribed 1.30 times, according to NSE data.

The company’s IPO had opened for subscription on February 5, 2009 and closed on February 9. The price band for the issue is fixed between Rs 55 and Rs 60.

The book running lead managers for the issue are Keynote Corporate Services and Ashika Capital.

Kalpathi Investments, a private NBFC, owns 46.46%. Kalpathi Investments is the largest shareholder of the company

The shares are proposed to be listed on the BSE and NSE.