Alpa Laboratories Limited receives 1.11 times subscription

The Initial Public Offering (IPO) of Alpa Laboratories Limited which closed for subscription on July 17, 2007 has received lukewarm response from investors with the issue receiving subscription of 1.11 times.

The company has received total bids for 10523600 equity shares against the offer of 9500000 equity shares. The total bids received at cut-off price were 6932900 equity shares.

The company's IPO opened for subscription on July 12, 2007. The company issued 95,00,000 Equity Shares of Rs.10 each for cash at a price band of Rs. 62/- to Rs. 68/- through 100% book building issue.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion received subscription of just 0.1789 times with bids for 827400 shares against the offer of 4625000 equity shares.

The Non Institutional Investors portion received bids for 2764200 equity shares against the offer of 1387500 equity shares resulting in a subscription of 1.9922 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 2.1404 times with bids for 6929700 shares against the offer of 3237500 equity shares.

The Employee Reservation portion received bids for just 2300 shares against the offer of 250000 shares resulting in a subscription of 0.0092 times.

Source : Equity Bulls

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