BGR Energy Systems Limited IPO Subscribed 3.05 times

The Initial Public Offering (IPO) of BGR Energy Systems Limited which opened for subscription by investors on December 5, 2007 has received good response. The issue has received subscription of 3.05 times till 5:00 PM on December 6, 2007.

The issue has received bids for 27844530 equity shares against the offer of 9136000 equity shares. The issue has received bids for 902538 equity shares at Cut-off Price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion has received bids for 5.1771 times with bids for 26825540 equity shares against the offer of 5181600 equity shares.

The Non Institutional Investors portion has received bids for 11144 shares against the offer of 863600 shares resulting in a subscription of 0.0129 times.

The Retail Individual Investors (RIIs) portion has received subscription of 0.3890 times with bids for 1007846 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.

Source : Equity Bulls

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