MIC Electronics Limited IPO receives 50.59 times subscription

The Initial Public Offering of MIC Electronics Limited has received overwhelming response from investors with the issue receiving subscription of 50.59 times resulting in a oversubscription of 49.59 times.

The IPO opened for subscription on April 30, 2007 and closed today (May 08, 2007). The company issued shares in a price band of Rs.129/- to Rs.150/- through 100% book building issue.

The issue received bids for 257986305 equity shares against the offer of 5100000 shares. The issue received bids for 53686755 shares at Cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription for 121105755 shares against the offer of 2550000 shares resulting in a subscription of 47.4925 times. The Non Institutional Investors portion received a stunning subscription of 106.3369 times resulting in bids for 81347760 shares against the offer of 765000 shares. The Retail Individual Investors (RIIs) portion received bids for 55532790 shares against the offer of 1785000 shares resulting in a subscription of 31.1108 times.

Source : Equity Bulls

Keywords