Fortis Healthcare Limited IPO receives 2.78 times subscription

The Initial Public Offering of Fortis Healthcare Limited closed for subscription today (Friday - April 20, 2007). The IPO has received subscription of 2.78 times.

Out of the total issue of 45753963 equity shares, the company has received bids for 127406880 equity shares. The company has received bids for 41636160 equity shares at Cut-off price.

Out of the issue, 27452378 shares were reserved for subscription by Qualified Institutional Buyers (QIBs). The QIBs portion received subscription for 74777100 shares resulting in a subscription of 2.7239 times. The Non Institutional Investors portion received bids for 1.7391 times with demand for 7957140 shares against the offer of 4575396 shares. The Retail Individual Investors (RIIs) portion has received bids for 44672640 shares against the offer of 13726189 shares resulting in a subscription of 3.2546 times.

The IPO opened for subscription on April 16, 2007. The company came out with the IPO at a price band of Rs.92 to Rs.110. 45753963 Equity Shares were offered through the issue excluding firm allotment of 242476 Equity Shares to Employees.

Source : Equity Bulls

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