Central Bank of India IPO receives 62.07 times subscription

The Initial Public Offering of Central Bank of India which opened for subscription on July 24, 2007 and closed today - Friday - July 27, 2007 has received stunning response from all categories of investors with a subscription of 62.07 times.

The Bank came out with an IPO of 80000000 Equity Shares of Rs.10 each for cash at a price band of Rs. 85/- to Rs. 102/- through 100% book-building process.

The issue received total bids for 4965716880 equity shares against the offer of 80000000 equity shares. The issue received bids for a whopping 356456160 equity shares at cut-off price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion of the issue received bids for 4063677240 equity shares against the offer of 45600000 equity shares resulting in a subscription of 89.1157 times.

The Non Institutional Investors portion received subscription of 69.5761 times with bids for 528778260 equity shares against the offer of 7600000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 369421620 equity shares against the offer of 22800000 equity shares resulting in a subscription of 16.2027 times.

The employee portion of the issue received subscription of 0.9599 times with bids for 3839760 equity shares against the offer of 4000000 equity shares.

Source : Equity Bulls

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