Nitin Fire Protection Industries Ltd IPO oversubscribed 47.48 times

The Initial Public Offering of Nitin Fire Protection Industries Ltd has received overwhelming response from investors with the issue getting subscription for 48.48 times resulting in oversubscription of 47.48 times.

The company came out with IPO in a price band of Rs 171/- to Rs. 190/- The issue opened for subscription on May 15, 2007 and closed today (May 18, 2007 - Friday).

The issue has received bids for 164339805 equity shares against the offer of 3390000 shares. The company has received bids for 32324600 shares at Cut-off price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received bids for 80855215 shares against the offer of 1620000 shares resulting in a subscription of 49.9106 times. The Non Institutional Investors portion received tremendous response with subscription for 101.3204 times resulting in bids for 49241710 shares against the offer of 486000 shares. The Retail Individual Investors (RIIs) portion received bids for 34353060 shares against the offer of 1134000 shares resulting in a subscription of 30.2937 times. The Employees portion received bids for 166600 shares against the offer of 150000 shares resulting in subscription of 1.1107 times.

Source : Equity Bulls

Keywords