Simplex Projects Limited IPO receives 85.53 times subscription

The Initial Public Offering (IPO) of Simplex Projects Limited which closed for subscription on July 13, 2007 has recevied excellent response for investors with the issue receiving 85.53 times subscription.

The IPO of Simplex Projects Limited opened for subscription on July 10, 2007. The company came out with an IPO of 30,00,000 Equity Shares of Rs.10 each for cash at a price band of Rs.170/- to Rs.185/- through 100% Book Building issue.

The issue received total bids for 256602540 equity shares against the offer of 3000000 equity shares. The issue received bids for 50397540 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 135667830 equity shares against the offer of 1500000 equity shares resulting in a subscription of 90.4452 times.

The Non Institutional Investors portion of the issue received subscription of 153.7979 times with bids for 69209070 equity shares against the offer of 450000 equity shares.

The Retail Individual Investors (RIIs) portion received bids for 51725640 equity shares against the offer of 1050000 equity shares resulting in a subscription of 49.2625 times.

Source : Equity Bulls

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