Barak Valley Cements Ltd IPO Closes on November 1, receives 3.95 times subscription

The Initial Public Offering (IPO) of Barak Valley Cements Ltd closes for subscription on Thursday - November 1, 2007. The IPO opened for subscription on October 29, 2007.

The Issue has received average response from investors with a subscription of 3.95 times. The IPO has received bids for 22349400 equity shares against the offer of 5660000 equity shares.

The Issue received bids for 5384400 shares at Cut-off price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received bids for 13733850 equity shares against the offer of 2773500 shares resulting in a subscription of 4.9518 times.

The Non Institutional Investors portion of the issue received subscription of 3.1033 times with bids for 2582100 shares against the offer of 832050 shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 5934750 shares against the offer of 1941450 shares resulting in a subscription of 3.0569 times. The Employee Reservation received subscription of 0.8735 times with bids for 98700 shares against the offer of 113000 shares.

Source : Equity Bulls

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