Ankit Metal & Power Limited IPO scrapes through, receives 1.58 times subscription

The Initial Public Offering (IPO) of Ankit Metal & Power Limited scraped through with a subscription of 1.58 times. The company came out with an IPO of 95,90,000 Equity Shares (Excluding promoters contribution 23,10,000 Equity Shares) of Rs.10 each at a price band of Rs.30 to Rs.36.

The issue opened for subscription on June 18, 2007 and closed on Friday June 22, 2007.

The issue received total bids of 15162000 shares against the offer of 9590000 shares. The issue received bids for 8019520 shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.7190 times with bids for 3019860 shares against the offer of 4200000 shares.

The Non Institutional Investors portion received bids for 4787050 shares against the offer of 1260000 shares resulting in a subscription of 3.7992 times.

The Retail Individual Investors (RIIs) portion received subscription of 2.4286 times with bids for 7140200 shares against the offer of 2940000 shares. The Employee Reservation received bids for 214890 shares against the offer of 1190000 shares resulting in a meagre subscription of 0.1806 times.

Source : Equity Bulls

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