Vishal Retail Limited IPO receives overwhelming response, issue oversubscribed 68.08 times

The Initial Public Offering (IPO) of Vishal Retail Limited has received overwhelming response from the investing community with the issue receiving subscription of 69.08 times.

The IPO opened for subscription on Monday - June 11, 2007 and closed today (Wednesday - June 13, 2007). The company issued shares in the price band of Rs.230/- to Rs.270/- through 100% book building process.

The issue received bids for 330360475 equity shares against the total issue size of 4782609 shares. The issue received bids for 69406000 shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 122513375 equity shares against the offer of 2689565 shares resulting in a subscription of 45.5514 times. The Non Institutional Investors portion received tremendous response with a subscription of 311.5705 times with bids for 139664900 shares against the offer of 448261 shares. The Retail Individual Investors (RIIs) portion received bids for 67779075 shares against the offer of 1344783 shares resulting in a subscription of 50.4015 times. The Employee Reservation received bids for 403125 shares against the offer of 300000 shares resulting in a subscription of 1.3438 times.

Source : Equity Bulls

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