Zylog Systems Limited IPO fully subscribed, receives 3.10 times subscription

The Initial Public Offering (IPO) of Zylog Systems Limited has received good response from Institutional Investors with the company receiving subscription of 3.10 times on opening day itself. The IPO opened for subscription on July 20, 2007 and closes for subscription on July 25, 2007.

The company has received total bids for 11174720 equity shares against the offer of 3600000 equity shares. The company has received bids for 26060 equity shares at cut-off price.

The company is issuing 3600000 Equity Shares at a price band of Rs.310/- to Rs.350/- through 100% book-building issue.

Out of the issue the Qualified Institutional Buyers (QIBs) portion received bids for 11145520 equity shares against the offer of 2100000 equity shares resulting in a subscription of 5.3074 times.

The Non Institutional Investors portion of the issue received subscription of 0.0090 times with bids for 3140 equity shares against the offer of 350000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 26060 equity shares against the offer of 1050000 equity shares resulting in a subscription of 0.0248 times. The Employee Reservation of the issue hasn't received any subscription yet.

Source : Equity Bulls

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