Takyon Networks IPO, Aug. 1 -- The Rs.20.5 crore initial public offering (IPO) of IT solutions provider Takyon Networks is closing for subscription today, Friday, August 1. The SME IPO, which opened on Wednesday, July 30, is witnessing decent subscription. However, the grey market premium (GMP) of the stock indicated a flat listing.

The SME IPO is a fresh issue of 37,92,000 shares. The company intends to use the net proceeds to pay some borrowings, meet working capital requirements, and for general corporate purposes.

By 10:55 AM on the third day of subscription on Friday, the issue had seen an overall subscription of 4.68 times, with the retail segment booked 4.36 times. The segments reserved for NIIs were booked 4.58 times, and the QI...