SVPCL Ltd receives 1.09 times subscription

The Initial Public Offering (IPO) of SVPCL Ltd closed for subscription by investors on October 26, 2007 has received lukewarm response from investors. The issue just scraped through with a subscription of 1.09 times.

The company came out with an Initial Public Offering (IPO) of equity shares of Rs.10 each for cash at a price band of Rs.40 to Rs.45 per share for cash aggregating Rs.3450 Lakhs.

The IPO opened for subscription on Monday - October 22, 2007 and closed on Friday - October 26, 2007.

The Issue received bids for 9391500 equity shares against the offer of 8625000 shares. The issue received bids for 6394000 equity shares at Cut-off price.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Out of the issue, the Qualified Institutional Buyers (QIBs) portion received bids for 1981125 equity shares against the offer of 4312500 shares resulting in a subscription of 0.4594 times. The Non Institutional Investors portion received subscription of 0.4966 times with bids for 642500 shares against the offer of 1293750 shares.

The Retail Individual Investors (RIIs) helped the issue to sail through by subscribing to 6767875 equity shares against the offer of 3018750 shares resulting in a subscription of 2.2419 times.

Source : Equity Bulls

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