Barak Valley Cements IPO receives 29.15 times subscription

The Initial Public Offering (IPO) of Barak Valley Cements Ltd has received subscription of 29.15 times. The IPO which opened for subscription by investors on October 29, 2007 closed on Thursday - November 1, 2007.

The IPO received total bids for 165001350 equity shares against the offer of 5660000 shares. The Issue also received bids for 72247650 equity shares at cut-off price.

The company came out with an IPO of 5660000 Equity Shares of Rs 10 each for cash at a price band of Rs 37 to Rs 42.

Out of the issue, Qualified Institutional Buyers (QIBs) portion received bids for 67040700 equity shares against the offer of 2773500 shares resulting in a subscription of 24.1719 times.

The Non Institutional Investors portion received subscription of 25.5093 times with bids for 21225000 shares against the offer of 832050 shares.

The Retail Individual Investors (RIIs) portion of the issue recieved bids for 76633050 shares against the offer of 1941450 shares resulting in a subscription of 39.4721 times. The Employee Reservation received subscription of 0.9080 times with bids for 102600 shares against the offer of 113000 shares.

Source : Equity Bulls

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