Aries Agro Ltd IPO subscribed 7.62 times

The Initial Public Offering (IPO) of Aries Agro Ltd has received average response with the issue receiving subscription of 7.62 times till 6:00 PM on December 19, 2007.

The IPO has received total bids of 34283250 equity shares against the offer of 4500000 equity shares. The issue has received bids for 9531900 shares at cut-off price.

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

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received subscription of 8.1593 times with bids for 18358450 equity shares against the offer of 2250000 shares.

The Non Institutional Investors portion has received bids for 5743950 equity shares against the offer of 675000 shares resulting in a subscription of 8.5096 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 6.4640 times with bids for 10180850 equity shares against the offer of 1575000 shares.

Source : Equity Bulls

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