Asian Granito India Limited IPO receives 4.51 times subscription

The Initial Public Offering (IPO) of Asian Granito India Limited which closed for subscription on July 31, 2007 has received moderate response from investors with the issue receiving subscription of 4.51 times.

The issue has received bids for 31600020 equity shares against the offer of 7000000 equity shares. The issue has also received bids for 10495500 shares at Cut-off price. The issue opened for subscription on July 26, 2007.

The company issued 7000000 Equity Shares of Rs.10 each for cash at a price band of Rs.85 to Rs.102 through 100% book-building process.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion received bids for 10295460 equity shares against the offer of 3325000 shares resulting in a subscription of 3.0964 times.

The Non Institutional Investors portion of the issue received subscription of 10.0061 times with bids for 9981060 shares against the offer of 997500 shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 10841700 shares against the offer of 2327500 shares resulting in a subscription of 4.6581 times. The Employee Reservation portion of the issue received bids for 481800 shares against the offer of 350000 shares resulting in a subscription of 1.3766 times.

Source : Equity Bulls

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