Financial services company Onelife Capital Advisors' (OCAL) initial public offering (IPO) received bids for 15.35 lakh shares by 16:00 IST on the fourth day of bidding today, 3 October 2011, compared with 33.5 lakh shares on offer. The IPO was subscribed 46%.

The company aims to raise Rs 33.50-36.85 crore through the issue at price band of Rs 100-110 per share. The issue closes on 4 October 2011.

The company plans to spend the IPO money for purchase of corporate office at Mumbai (with cost of Rs 7 crore); development of portfolio management services (at a cost of Rs 11.58 crore); and brand building activities (with a cost of Rs 7.7 crore).

Onelife Capital Advisors is a financial services company, offering investment banking services and portfolio management and equity broking services. The company is focused on nurturing small and medium sized enterprises (SME) to source capital in various forms. OCAL offers a range of services like initial public offerings, rights issue, buyback of shares, follow on public offering, qualified institutional placements, open offers and other equity linked financing.