New Delhi, Aug. 29 -- Globtier Infotech IPO allotment: The initial public offering (IPO) of Globtier Infotech closed for bidding on Thursday, August 28, and now the investor focus has shifted to the allotment status. Globtier Infotech IPO allotment is likely to be out today, August 29.

The demand for the issue was tepid, along with a weak grey market premium (GMP). The Rs.31 crore offer was open for bidding from August 25 to August 28.

Globtier Infotech IPO was booked 1.34 times at the end of the bidding process, with the retail portion subscribed 2.04 times and the NII portion 0.63 times.

The issue was a mix of fresh share sale of Rs.27.44 crore and an offer for sale of Rs.3.61 crore. The company plans to use the funds raised from the...