Porwal Auto Components Ltd IPO subscribed 0.78 times

The Initial Public Offering (IPO) of Porwal Auto Components Ltd has received average response with the issue receiving subscription of 0.78 times till 5:00 PM on December 18, 2007.

The IPO has received total bids of 3888160 equity shares against the offer of 5000000 equity shares. The issue has received bids for 80560 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 subscription of 1.5100 times with bids for 3774960 equity shares against the offer of 2500000 shares.

The Non Institutional Investors portion has received bids for 24000 equity shares against the offer of 750000 shares resulting in a subscription of 0.0320 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.0510 times with bids for 89200 equity shares against the offer of 1750000 shares.

Source : Equity Bulls

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