Renaissance Jewellery IPO subscribed 0.99 times

The Initial Public Offering (IPO) of Renaissance Jewellery Ltd which opened for subscription on November 19, 2007 has received subscription of 0.99 times till 4 PM on November 20, 2007.

The company is issuing one detachable warrant for every 2 equity shares allotted.

The Equity Shares and Warrants offered through this public issue are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE").

The issue has received total bids for 5269320 equity shares against the offer of 5324240 equity shares. The issue has received bids for 839880 equity shares at cut-off price.

The company is issuing 5324240 Equity Shares of Rs 10 each for cash at a price band of Rs 125 to Rs 150 per share through 100% book building process.

Edelweiss Capital Limited is the Book Running Lead Manager to the issue.

Source : Equity Bulls

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