New Delhi, Sept. 2 -- The initial public offering (IPO) of Optivalue Tek Consulting, which opened for subscription on Tuesday, September 2, sailed through on the first day of the bidding process itself.

The issue, however, will remain open for bidding till Thursday, September 4.

Optivalue Tek Consulting IPO was subscribed 1.71 times as of 2.55 pm on the first day of bidding. The retail portion sailed through with 1.03 times bids. Meanwhile, the NII part was subscribed 5.39 times, and the QIB segment was booked 12% so far.

The issue received bids for 70,44,800 shares as against 41,20,000 shares on offer.

The Rs.51.82 crore SME IPO of Optivalue Tek Consulting is entirely a fresh share sale of 0.62 crore shares. The price band for Optiva...