Religare Enterprises Limited IPO closes tomorrow, receives 32 times subscription

The Initial Public Offering (IPO) of Religare Enterprises Limited closes for subscription on Thursday - November 1, 2007. The IPO opened for subscription on October 29, 2007.

The Issue has received overwhelming response from investors with a subscription of 32 times. The IPO has received bids for 242442935 equity shares against the offer of 7576102 equity shares.

The Issue received bids for 28348915 shares at Cut-off price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received bids for 210162855 equity shares against the offer of 4545662 shares resulting in a subscription of 46.2337 times.

The Non Institutional Investors portion of the issue received subscription of 2.4502 times with bids for 1856330 shares against the offer of 757609 shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 30423750 shares against the offer of 2272831 shares resulting in a subscription of 13.3858 times.

Source : Equity Bulls

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