Meghmani Organics Limited IPO receives 23.94 times susbcription

The Initial Public Offering (IPO) of Meghmani Organics Limited has received overwhelming response from investors with the issue receiving subscription of 23.94 times. The issue opened for subscription on June 04, 2007 and closed on Thursday - June 07, 2007.

The company issued shares in a price band of Rs. 17/- to Rs. 19/- through 100% book building issue.

The issue received bids for 1436348900 shares agains the offer of 60000000 shares. The issue received bids for 454235600 shares at Cut-off Price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion received subscription of 19.4343 times with bids for 699633550 shares against the offer of 36000000 shares. The Non Institutional Investors portion received bids for 268524900 shares against the offer of 6000000 shares resulting in a subscription of 44.7542 times. The Retail Individual Investors (RIIs) portion received bids for 468190450 shares against the offer of 18000000 shares resulting in a subscription of 26.0106 times.

Source : Equity Bulls

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