Ice Make Refrigeration Limited is a fast growing company in the refrigeration arena providing cooling solutions in business verticals such as cold rooms, commercial refrigeration, industrial refrigeration and transport refrigeration. It entered the capital market on the SME platform of NSE and offered 41,60,000 equity shares of Rs.10 each. The IPO opened on November 28 and closed on November 30. The IPO was subscribed more than 261 times, as the Rs.23.71 crore initial offer witnessed a book size of nearly Rs.6,200 crore – a record subscription figure for an SME IPO. The Ahmedabad based company’s shares were offered in the range of Rs.55-57 per share. Money raised through the IPO will be used to finance setting up of a coil manufacturing facility, upgradation of its existing facilities and construction of an administration office, all at places near Ahmedabad. It would also spend some funds towards brand building and invest in Bharat Refrigerations Private Limited, its wholly owned subsidiary, for upgradation of its facilities at Chennai.