V-Guard IPO subscribed 2.65 times

The Initial Public Offering of V-Guard Industries Limited which opened for subscription on February 18, 2008 has received subscription of 2.65 times till 4:00 PM on 21 Feb 2008.

The company has come out with an IPO of 8000000 Equity Shares of Rs.10 each for cash at a price band of Rs 80 to Rs 85 through 100% book building process.

The IPO has received total bids for 21225040 equity shares against the offer of 8000000 shares. The issue has received bids for 7085840 equity shares at cut-off price.

The issue closes for subscription on February 21, 2008.

Source : Equity Bulls

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