Time Technoplast Ltd IPO receives 49.55 times subscription

The Initial Public Offering (IPO) of Time Technoplast Ltd has received overwhelming response from investors with the issue receiving subscription of 49.55 times. The issue has received bids for 194323040 shares compared to the total issue size of 3921500 shares.

The issue has received bids for 13396480 shares at cut-off price. The company issued shares in the price band of Rs 290/- to Rs. 315/- The IPO opened for subscription on May 18, 2007 and closed on Wednesday - May 23, 2007.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion has received bids for 153470380 shares against the offer of 2196240 shares resulting in a subscription of 69.8787 times. The Non Institutional Investors portion of the issue received bids for 26416880 shares against the offer of 366040 shares resulting in a subscription of 72.1694 times. The Retail Individual Investors (RIIs) portion received subscription of 12.9671 times with bids for 14239420 shares against the offer of 1098120 shares. The Employees portion of the issue received bids for 0.7520 times with bids for 196360 shares against the offer of 261100 shares.

Source : Equity Bulls

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