KNR Constructions IPO subscribed 1.25 times

The Initial Public Offering (IPO) of KNR Constructions Limited which opened for subscription on January 24, 2008 has received 1.25 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 9872975 equity shares against the offer of 7874570 shares. The issue has received bids for 684880 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 5317445 equity shares against the offer of 3867280 equity shares resulting in a subscription of 1.3750 times.

The Non Institutional Investors portion has received subscritpion of 3.2059 times with bids for 3719450 equity shares against the offer of 1160185 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 0.2772 times with bids for 750505 shares against the offer of 2707105 shares.

The Employee Reservation portion has received bids for 85575 equity shares against the offer of 140000 shares resulting in a subscription of 0.6113 times.

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

Source : Equity Bulls

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