Housing Development and Infrastructure Limited (HDIL) IPO oversubscribed 5.60 times

The Initial Public Offering of Housing Development and Infrastructure Limited (HDIL) has received average response from investors with the issue receiving subscription of 6.60 times resulting in a oversubscription of 5.60 times.

The IPO which opened for subscription on June 28, 2007 closed on Tuesday - July 03, 2007.

The company issued 2,97,00,000 Equity Shares (Excluding Green Shoe Option of 44,55,000 Equity Shares) of Rs.10 each at a price band of Rs. 430/- to Rs. 500/-

The IPO received total bids for 196052724 shares against the offer of 29700000 shares. The issue also received bids for 13102152 equity shares at Cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 176952454 shares against the offer of 17460000 shares resulting in a subscription of 10.1347 times. The Non Institutional Investors portion of the issue received subscription of 1.7825 times with bids for 5187182 shares against the offer of 2910000 shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 13886194 shares against the offer of 8730000 shares resulting in a subscription of 1.5906 times.

The Employee Reservation evoked poor response with bids for 26894 shares against the offer of 600000 shares resulting in a subscription of 0.0448 times.

Source : Equity Bulls

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