Precision Pipes and Profiles Company Limited IPO subscribed 0.69 times

The Initial Public Offering (IPO) of Precision Pipes and Profiles Company Limited has received lukewarm response with the issue receiving subscription of 0.69 times till 6:00 PM on December 19, 2007.

The IPO has received total bids of 3690585 equity shares against the offer of 5357143 equity shares. The issue has received bids for 2521440 shares at cut-off price.

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

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received subscription of 270000 equity shares against the offer of 2250000 shares resulting in a subscription of 0.1008 times.

The Non Institutional Investors portion has received bids for 755235 equity shares against the offer of 803572 shares resulting in a subscription of 0.9398 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 1.4215 times with bids for 2665350 equity shares against the offer of 1875000 shares.

Source : Equity Bulls

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