PRO FX Tech IPO, June 26 -- The initial public offering (IPO) of AV products distributor - PRO FX Tech, which kicked off for subscription on Thursday, June 26, managed to sail through on the first day of the bidding process, led by strong demand from the qualified institutional buyers (QIBs).

The three-day public offer of PRO FX Tech is an SME issue, with the company looking to raise nearly Rs.40 crore via the initial share sale. The public offer will close for subscription on June 30, with allotment of shares likely on July 1 and listing expected on July 3 on the NSE SME.

PRO FX Tech IPO is entirely a fresh issue of 46.32 lakh shares. The issue is priced in the range of Rs.82 to Rs.87 per share. The minimum lot size for PRO FX Tech IPO...