Archidply Industries IPO receives 0.27 times subscription

The Initial Public Offering (IPO) of Archidply Industries Limited which opened for subscription on June 11, 2008 has received subscription of 0.27 times till 5:00 PM on June 16, 2008.

The company has come out with an IPO of 66,15,720 equity shares of Rs 10 each for cash at a price band of Rs 70 to Rs 80 through 100% book-building process.

The issue has received bids for 1764600 equity shares against the offer of 6615720 equity shares. The issue has received bids for 829500 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received no bids for equity shares against the offer of 3307860 equity shares.

The Non Institutional Investors portion of the issue has received bids for 890775 equity shares against the offer of 992358 equity shares resulting in a subscription of 0.8976 times.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 873825 equity shares against the offer of 2315502 equity shares resulting in a subscription of 0.3774 times.

The IPO closes for subscription today - June 17, 2008.

Source : Equity Bulls

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