BGR Energy Systems Limited IPO Subscribed 1.13 times

The Initial Public Offering (IPO) of BGR Energy Systems Limited which opened for subscription by investors today December 5, 2007 has received good response. The issue has received subscription of 1.13 times till 5:00 PM on December 5, 2007.

The issue has received bids for 10343326 equity shares against the offer of 9136000 equity shares. The issue has received bids for 367066 equity shares at Cut-off Price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion has received bids for 1.9158 times with bids for 9926658 equity shares against the offer of 5181600 equity shares.

The Non Institutional Investors portion has received bids for 2310 shares against the offer of 863600 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 0.1599 times with bids for 414358 shares against the offer of 2590800 equity shares.

The Employee Reservation has not received any bids yet against the offer of 500000 equity shares.

The IPO closes for subscription by investors on December 12, 2007.

SBI Capital Markets Limited, Kotak Mahindra Capital Company Ltd, UBS Securities India Pvt Ltd and CLSA India Ltd are the Book Running Lead Managers to the issue.

Source : Equity Bulls

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