KNR Constructions IPO subscribed 0.29 times

The Initial Public Offering (IPO) of KNR Constructions Limited which opened for subscription on January 24, 2008 has received 0.29 times subscription.

The company has come out with an IPO of 7874570 Equity Shares of Rs 10 each for cash at a price band of Rs 170 to Rs 180 through 100% book building process.

The IPO has received total bids for 2292850 equity shares against the offer of 7874570 shares. The issue has received bids for 97825 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 1572795 equity shares against the offer of 3867280 equity shares resulting in a subscription of 0.4067 times.

The Non Institutional Investors portion has received subscritpion of 0.4937 times with bids for 572775 equity shares against the offer of 1160185 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 0.0390 times with bids for 105560 shares against the offer of 2707105 shares.

The Employee Reservation portion has received bids for 41720 equity shares against the offer of 140000 shares resulting in a subscription of 0.2980 times.

The IPO closes for subscription today - January 29, 2008.

Source : Equity Bulls

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