Precision Pipes and Profiles Company Limited IPO subscribed 0.28 times

The Initial Public Offering (IPO) of Precision Pipes and Profiles Company Limited has received lukewarm response with the issue receiving subscription of 0.28 times till 5:00 PM on December 18, 2007.

The IPO has received total bids of 1524465 equity shares against the offer of 5357143 equity shares. The issue has received bids for 1420695 shares at cut-off price.

The IPO opened for subscription by investors on December 17, 2007 and closes for subscription tomorrow - December 20, 2007.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received Nil subscription against the offer of 2250000 shares.

The Non Institutional Investors portion has received bids for 20385 equity shares against the offer of 803572 shares resulting in a subscription of 0.0254 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.8022 times with bids for 1504080 equity shares against the offer of 1875000 shares.

Source : Equity Bulls

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