Omnitech InfoSolutions Limited IPO receives 61.84 times subscription

The Initial Public offering of Omnitech InfoSolutions Limited which closed for subscription on July 25, 2007 has received overwhelming response from investors with the company receiving 61.84 times subscription.

The company's IPO opened for subscription on July 19,2007. The company issued 3888840 Equity Shares of Rs.10 each for cash at a price band of Rs. 90/- to Rs. 105/- through 100% book-building issue.

The company received bids for 240484380 shares against the offer of 3888840. The issue received 64584900 equity shares at cut-off price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion of the issue received bids for 114073140 shares against the offer of 1847199 shares resulting in a subcription of 61.7547 times.

The Non Institutional Investors portion of the issue received subscription of 108.6629 times with bids for 60216660 shares against the offer of 554160 shares.

The Retail Individual Investors (RIIs) portion received bids for 65884920 shares against the offer of 1293039 shares resulting in a subscription of 50.9535 times.

The Employee Reservation portion received bids for 1.5926 times with bids for 309660 shares against the offer of 194442 shares.

Source : Equity Bulls

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