Take Solutions, an international business technology company with a focus on life sciences and supply chain management solutions, has received overwhelming response from investors, especially qualified institutional investors, despite weak sentiment in markets.

A 21 lakh shares issue has received bids for 12.47 crore shares including bids for 1.35 crore shares at cut off price. It has subscribed 59.42 times, as per NSE website.

The company had come out with an initial public offer (IPO) of upto 2,100,000 equity shares of Rs 10 each for cash at a price to be decided through the 100% book building process.

The price band is between Rs 675 and Rs 730 per equity share. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

The issue comprises a net issue to the public of 2,000,000 equity shares and a reservation of 100,000 equity shares for subscription by eligible employees at the issue price. The issue will constitute 17.50% of the fully diluted post issue paid up equity capital of the company. The net issue constitutes 16.67% of the fully diluted post issue paid-up equity capital of the company.

The objects of this issue are to raise fresh capital that can be deployed in the acquisition of companies, businesses and products as well as to repay the debt facilities utilised in the acquisition of ClearOrbit Inc., USA. It intends to enhance product development and domestic infrastructure facilities.

Take Solutions offers cost effective comprehensive business solutions backed by domain expertise, in supply chain management and life sciences. It has a presence in the US through its Life Sciences Domain Excellence centre located in New Jersey. It has a significant representation in various regions across the world through its business development offices located in India, Singapore, Malaysia and the U.S.