Empee Distilleries Ltd IPO fails to evoke good response from investor

The Initial Public Offering (IPO) of Empee Distilleries Limited has failed to receive encouraging response from investors compared to the other IPOs which had opened for subscription in the recent past. The IPO has just received subscription of 0.25 times till 11:00 AM on Friday - November 2, 2007. The IPO which opened for subscription by investors on November 1, 2007 closes on Tuesday - November 6, 2007.

The IPO has received total bids for 1218585 equity shares against the offer of 4800000 shares. The Issue has received bids for 18300 equity shares at cut-off price.

The company has come out with an IPO of 4800000 Equity Shares of Rs 10 each for cash at a price band of Rs 350 to Rs 400.

As on 01 Nov 2007 at 1700 hrs the Qualified Institutional Buyers (QIBs) portion received bids for 312000 equity shares against the offer of 2400000 shares resulting in a subscription of 0.1300 times.

The Non Institutional Investors portion received subscription of 0.0036 times with bids for 2625 shares against the offer of 720000 shares.

The Retail Individual Investors (RIIs) portion of the issue recieved bids for 15960 shares against the offer of 1680000 shares resulting in a subscription of 0.0095 times.

Source : Equity Bulls

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