Fortis Healthcare Limited IPO receives 0.75 times subscription

The Initial Public Offering (IPO) of Fortis Healthcare Limited which opened for subscription on April 16, 2007 has received subscription of 0.75 times as on 18 April 2007 at 1700 hrs. The issue is slated to close for subscription on Friday - April 20, 2007.

The issue has received total bids for 34231080 equity shares against the offer of 45753963 shares. The issue has received subscription for 3297240 at cut-off price.

The Qualified Institutional Buyers (QIBs) portion has received bids for 30339180 equity shares against the offer of 27452378 shares resulting in a subscription of 1.1052 times. The Non Institutional Investors portion has received subscription for 0.0682 times with bids for just 312060 equity shares against the offer of 4575396 shares. The Retail Individual Investors (RIIs) portion has received bids for 3579840 equity shares against the offer of 13726189 shares resulting in a subscription of 0.2608 times.

The issue has evoked mixed response from investors with various brokerages giving different opinion about the company. With two more days left for subscription we expect the issue to receive full subscription.

Source : Equity Bulls

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