New Delhi, Aug 15 (PTI) The 6.53 per cent stake sale by Calcom Vision's promoters received an encouraging response from investors.

The two-day offer for sale (OFS) of a fully-integrated lighting solutions manufacturer Calcom Vision which was opened for subscription on Thursday and Friday was fully subscribed, the company said.

Also Read | Ola Electric Scooter To Be Launched Today in India, How To Watch Live Stream; Check Expected Prices & Specifications.

The portion reserved for retail investors was subscribed by 519.31 per cent while the non-retail portion was subscribed by 142.22 per cent, it added.

The floor price for the sale was fixed at Rs 34 per share, lower than the Wednesday's closing price of Rs 34.95.

Also Read | Joe Jonas Birthday: 10 Hairstyles Of The American Pop Sensation That Totally RAD.

The bids were placed within the price range of Rs 34 to Rs 42. Out of the total bids received, most of the bids were received at floor price of Rs 34.

In a notice to BSE on Wednesday, Calcom Vision said the promoter group, which includes Sushil Kumar Malik HUF, Shashi Malik, and Prudent Infrastructures, intend to sell 6.88 lakh shares, representing 6.53 per cent stake.

In the last few years, Calcom Vision has expanded its product portfolio in lighting solutions.

In 2020, it entered the mass volume segment of LED bulbs. The company is also now the approved manufacturer for Panasonic and other leading brands such as Bajaj, Osram, Ledvance and Great White.

For the year ended March 2021, the company reported net sales of Rs 57 crore and a net profit of Rs 76 lakh as its operations were hit due to pandemic.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)