Cords Cable IPO subscribed 4.99 times

The Initial Public Offering (IPO) of Cords Cable Industries Ltd which opened for subscription on January 21, 2008 closed for subscription today - January 24, 2008 has received 4.99 times subscription.

The company came out with an IPO of 3085000 Equity Shares of Rs 10 each for cash at a price band of Rs 125 to Rs 135 through 100% book building process.

The IPO has received total bids for 15399750 equity shares against the offer of 3085000 shares. The issue has received bids for 2570150 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 10291900 equity shares against the offer of 1507500 equity shares resulting in a subscription of 6.8271 times.

The Non Institutional Investors portion has received subscritpion of 5.1132 times with bids for 2312450 equity shares against the offer of 452250 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 2.5818 times with bids for 2724400 shares against the offer of 1055250 shares.

The Employee Reservation portion has received bids for 71000 shares against the offer of 70000 shares resulting in a subscription of 1.0143 times.

Source : Equity Bulls

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