PRO FX Tech SME IPO Subscribed 23.60 Times; Demand from All Investor Segments Fuels Robust Closing
By Shishta Dutta | Updated at: Nov 28, 2025 02:57 PM IST
Mumbai, 30 June 2025: The ₹40.30 crore PRO FX Tech IPO concluded today on a strong note, attracting widespread interest across investor categories. By the close of bidding, the issue received applications for 7.82 crore shares, against a net offer of 33.15 lakh shares, reflecting an overall subscription of 23.60 times.
Retail and HNI Categories Push Demand Beyond Expectations
Investor response remained strong throughout the bidding period, with retail investors and non-institutional investors (HNIs) accounting for significant demand.
| Category | Applications | Shares Bid For | Times Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 15 | 1,93,50,400 | 5.84x |
| Non-Institutional Investors (NII) | 947 | 3,73,85,600 | 13.75x |
| Retail Individual Investors (RII) | 13,426 | 2,14,81,600 | 8.04x |
| Total | 14,388 | 7,82,17,600 | 23.60x |
Over 13,400 retail applications were received, with more than 1.5 crore shares bid at the cut-off price. HNI interest dominated in volume, contributing to nearly half of the total demand.
QIB Participation Strengthens Sharply on Final Day
Qualified Institutional Buyers (QIBs) significantly raised their bids during the last trading session. The detailed QIB response includes:
- FIIs: 28.54 lakh shares
- Domestic FIs and Banks: 54.73 lakh shares
- Others (QIB): 110.22 lakh shares
Despite the absence of mutual fund participation, the QIB portion was subscribed nearly six times, reflecting solid institutional confidence in the offering.
Issue Highlights
| Particulars | Details |
|---|---|
| IPO Price Band | ₹82 – ₹87 |
| Issue Size | ₹40.30 crore (46.32 lakh shares) |
| Net Issue Size | 33.15 lakh shares |
| Subscription (overall) | 23.60 times |
| Listing Date | July 3, 2025 |
| Exchange | NSE Emerge |
IPO Proceeds Set to Boost Expansion and Liquidity
According to the company’s filing, the net proceeds from the issue will be allocated as follows:
- ₹15 crore – Repayment of existing borrowings
- ₹7.47 crore – Establishment of three showroom-cum-experience centres
- ₹19 crore – Working capital needs
These investments aim to support the company’s growth initiatives and improve financial flexibility.
Listing Scheduled for July 3
With strong participation across investor classes and a high oversubscription rate, the allotment process will now proceed, followed by expected listing on the NSE Emerge platform on 3 July 2025. Market observers suggest that the enthusiastic response across categories signals positive investor sentiment, with expectations of a favourable debut.
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