Mundra Port and Special Economic Zone Limited IPO receives 4.67 times subscription

The Initial Public Offering (IPO) of Mundra Port and Special Economic Zone Limited has received encouraging response from investors with a subscription of 4.67 times till 11:00 AM on Friday - November 2, 2007. The IPO which opened for subscription by investors on November 1, 2007 closes on Wednesday - November 7, 2007.

The IPO has received total bids for 188069340 equity shares against the offer of 40250000 shares. The Issue has received bids for 241545 equity shares at cut-off price.

The company has come out with an IPO of 40250000 Equity Shares of Rs 10 each for cash at a price band of Rs 400 to Rs 440.

As on 01 Nov 2007 at 1700 hrs the Qualified Institutional Buyers (QIBs) portion received bids for 160056675 equity shares against the offer of 24060000 shares resulting in a subscription of 6.6524 times.

The Non Institutional Investors portion received subscription of 6.9202 times with bids for 27750030 shares against the offer of 4010000 shares.

The Retail Individual Investors (RIIs) portion of the issue recieved bids for 253875 shares against the offer of 12030000 shares resulting in a subscription of 0.0211 times. The Employee Reservation has not received any subscription yet against the offer of 150000 shares.

Source : Equity Bulls

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