New Delhi, Dec. 9 -- Western Overseas Study Abroad IPO share allotment is expected to be finalised today (Tuesday, December 9). The SME IPO, which opened for subscription on Thursday, December 4, and concluded on Monday, December 8, saw a modest subscription of 1.4 times, with the retail portion booked 2.4 times.

The SME IPO was entirely a fresh issue of 17,98,000 shares, priced at Rs.56 per share. The company intended to raise Rs.10.07 crore from the issue, which it will utilise to finance advertisement expenses, software acquisition and installation, payment of a portion of certain outstanding borrowings, and to meet general corporate purposes.

Sobhagya Capital Options Private Limited was the book-running lead manager, and Skyline Fin...