Kaveri Seed Company Limited IPO receives 4.51 times subscription

The Initial Public Offering (IPO) of Kaveri Seed Company Limited which closed for subscription on September 11, 2007 has received subscription of 4.51 times. The IPO opened for subscription on September 6, 2007.

The company came out with an IPO of 4000000 Equity Shares of Rs.10 each at a price band of Rs.150/- to Rs. 170/- through 100% Book Building process.

The IPO received bids for 18028800 equity shares against the offer of 4000000 shares. The issue received bids for 3767880 equity shares at Cut-off price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion received bids for 10614800 equity shares against the offer of 1900000 equity shares resulting in a subscription of 5.5867 times.

The Non Institutional Investors portion received subscription of 5.0456 times with bids for 2876000 shares against the offer of 570000 shares. The Retail Individual Investors (RIIs) portion received bids for 4338920 shares against the offer of 1330000 shares resulting in a subscription of 3.2623 times.

The Employee Reservation portion received subscription of 0.9954 times with bids for 199080 shares against the offer of 200000 shares.

Source : Equity Bulls

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