Indowind Energy Limited receives 0.97 times subscription

The Initial Public Offering (IPO) of Indowind Energy Limited which closed for subscription on August 24, 2007 has received 0.97 times subscription. The company came out with an IPO of 12500000 Equity Shares of Rs.10 each at a price band of Rs.55/- to Rs.65/- per share through 100% Book-Building Process.

The issue opened for subscription on August 21, 2007 and closed on August 24, 2007. UTI Securities Limited was the Book Running Lead Manager to the issue.

The company received bids for 12126200 equity shares against the offer of 12500000 shares. The issue also received bids for 4350000 shares at Cut-off price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion received bids for 5489700 shares against the offer of 6120000 shares resulting in a subscription of 0.8970 times.

The Non Institutional Investors portion received subscription of 0.8505 times with bids for 1561500 shares against the offer of 1836000 shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 4803000 equity shares against the offer of 4284000 shares. The Employee Reservation portion received subscription of 1.0462 times with bids for 272000 equity shares against the offer of 260000 shares.

Source : Equity Bulls

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