Sita Shree Food Products IPO subscribed 2.44 times

The Initial Public Offering of Sita Shree Food Products Ltd which opened for subscription on March 11, 2008 has received 2.44 times subscription. The IPO closed for subscription on March 14, 2008.

The company came out with an IPO of Equity Shares aggregating Rs. 315 million at a price band of Rs. 27 /- to Rs. 30 /- through 100% Book Building process.

Keynote Corporate Services Ltd is the Book Running Lead Manager to the issue and Keynote Capitals Limited is the Syndicate Member.

Ankit Consultancy Private Limited is the Registrar to the issue.

The issue received total bids for 28474200 equity shares against the offer of 11666667 equity shares. The issue also received bids for 16665600 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 1.0200 times with bids for 5949800 equity shares against the offer of 5833334 equity shares.

The Non Institutional Investors portion received bids for 5679400 equity shares against the offer of 1750000 equity shares resulting in a subscription of 3.2454 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 4.1253 times with bids for 16845000 equity shares against the offer of 4083333 shares.

Source : Equity Bulls

Keywords