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This OFS was oversubscribed 1,413 times—what's the catch?
Eastern Silk Industries, a Bengaluru-based textile company, just had its offer-for-sale (OFS) oversubscribed by an incredible 1,413 times—investors wanted 26.5 crore shares when only 1.87 lakh were available.
What's wild is that this rush happened even though the company's shares haven't traded since March 7, 2024.
Investors betting big on turnaround story
The OFS was run by the promoter Baumann Dekor, offering up to 2.5 lakh shares at a budget-friendly ₹2 each.
Despite being off the market for over a year, Eastern Silk made a comeback—turning the previous fiscal year's ₹12.3 crore loss into nearly ₹4 crore profit and bumping up revenue too.
Investors seem to be betting big on this turnaround story!
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