Suryachakra Power Corporation Limited IPO receives 2.18 times subscription

The Initial Public Offering (IPO) of Suryachakra Power Corporation Limited which closed for subscription on Friday - June 29, 2007 has received 2.18 times subscription. The company's IPO opened for subscription on June 25, 2007.

The company issued shares in the price band of Rs.17 to Rs.20.

The IPO received bids for 74248800 equity shares against the offer of 34000000 shares. The issue received bids for 32325300 shares at Cut-off price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion received bids for 31549500 shares against the offer of 16800000 shares resulting in a subscription of 1.8779 times.

The Non Institutional Investors portion received bids for 1.3347 with demand for 6726900 shares against the offer of 5040000 shares. The Retail Individual Investors (RIIs) portion received bids for 35572800 shares against the offer of 11760000 shares resulting in a subscription of 3.0249 times.

The Employee Reservation received subscription of 0.9990 times with bids for 399600 shares against the offer of 400000 shares.

Source : Equity Bulls

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