SVEC Constructions IPO receives 0.05 times subscription

The Initial Public Offering of SVEC CONSTRUCTIONS LIMITED has received worst response from investors in the current IPOs which are open for subscription. The company has received subscription of 0.05 times till 5:00 PM on 06 Feb 2008.

The company has come out with an IPO of 4000000 Equity Shares of Rs.10 each for cash at a price band of Rs 85 to Rs 95 through 100% book building process.

The IPO has received total bids for 199850 equity shares against the offer of 4000000 shares. The issue has received bids for 84000 equity shares at cut-off price.

The issue closes for subscription on February 8, 2008.

Source : Equity Bulls

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