First Winner Industries IPO receives subscription of 0.74 times

The Initial Public Offering (IPO) of First Winner Industries Limited which opened for subscription on June 9, 2008 has received subscription of 0.74 times till 5:00 PM on June 16, 2008.

The company has come out with an IPO of 55,00,000 equity shares of Rs 10 each for cash at a price band of Rs 120 to Rs 130 through 100% book-building process.

The issue has received bids for 4059900 equity shares against the offer of 5500000 equity shares. The issue has received bids for 1190950 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 2698050 equity shares against the offer of 2700000 equity shares resulting in a subscription of 0.9993 times.

The Non Institutional Investors portion of the issue has received bids for 51550 equity shares against the offer of 810000 equity shares resulting in a subscription of 0.0636 times.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 1206800 equity shares against the offer of 1890000 equity shares resulting in a subscription of 0.6385 times.

The Employee Reservation portion of the issue has received subscription of 103500 equity shares against the offer of 100000 equity shares resulting in a subscription of 1.0350 times.

The IPO is scheduled to close for subscription today - June 17, 2008 (extended date).

Source : Equity Bulls

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