Renaissance Jewellery IPO subscribed 23.63 times

The Initial Public Offering (IPO) of Renaissance Jewellery Ltd which opened for subscription on November 19, 2007 has received overwhelming response from investors with a subscription of 23.63 times till 5:30 PM on November 21, 2007.

The issue has received total bids for 125822835 equity shares against the offer of 5324240 equity shares. The issue has received bids for 18170910 equity shares at cut-off price.

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

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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