Aries Agro Ltd IPO subscribed 0.96 times

The Initial Public Offering (IPO) of Aries Agro Ltd has received lukewarm response with the issue receiving subscription of 0.96 times till 5:00 PM on December 18, 2007.

The IPO has received total bids of 4312050 equity shares against the offer of 4500000 equity shares. The issue has received bids for 601500 shares at cut-off price.

The IPO opened for subscription by investors on December 14, 2007 and closes for subscription today - December 19, 2007.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received subscription of 0.8819 times with bids for 1984300 equity shares against the offer of 2250000 shares.

The Non Institutional Investors portion has received bids for 1601750 equity shares against the offer of 675000 shares resulting in a subscription of 2.3730 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.4610 times with bids for 726000 equity shares against the offer of 1575000 shares.

Source : Equity Bulls

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