The IPO of telecom infrastructure service provider Nu Tek India has been oversubscribed 1.63 times. The IPO opened for subscription on July 29 and closed on August 1. The price band was fixed in the range of Rs 170 to Rs 192 per equity share of a face value of Rs 10 each.
Nu Tek India intends to utilise the proceeds from the IPO to meet capital expenditure, fund overseas acquisitions and augment long-term working capital.
