Birla Cotsyn IPO receives 0.44 times subscription

The Initial Public Offering (IPO) of BIRLA COTSYN (INDIA) LIMITED has received subscription of 0.44 times till 5:00 PM on July 7, 2008. The IPO opened for subscription on June 30, 2008.

The IPO has received bids for 39564350 equity shares against the offer of 89608333 equity shares. The issue has received bids for 20687100 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 555800 equity shares against the offer of 41783333 equity shares resulting in a subscription of 0.0133 times.

The Non Institutional Investors portion has received subscription of 1.4065 times with bids for 17630900 equity shares against the offer of 12535000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 21243950 equity shares against the offer of 29248333 equity shares resulting in a subscription of 0.7263 times.

The Employee Reservation has received subscription of 0.0221 times with bids for 133700 equity shares against the offer of 6041667 equity shares.

The IPO closes for subscription on July 9,2008.

Source : Equity Bulls

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