Vishal Information Technologies IPO subscribed 1.19 times

The Initial Public Offering (IPO) of Vishal Information Technologies Ltd which opened for subscription on Jul 21, 2008 has received subscription of 1.19 times. The IPO closed for subscription on Jul 24, 2008.

The company came out with an issue of 27,90,000 EQUITY SHARES of Rs 10 each for cash at a price band of RS.140 TO RS.150 through 100% book-building process.

Keynote Corporate Services and IDBI Capital Market Services Ltd are the Book Running Lead Managers to the issue. Keynote Capitals Limited and IDBI Capital Market Services Ltd are the Syndicate Members to the issue.

INTIME SPECTRUM REGISTRY LIMITED is the Registrar to the issue.

The IPO received subscription for 3328760 equity shares against the offer of 2790000 equity shares. The issue received subscription of 2072080 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.4492 times with bids for 626640 equity shares against the offer of 1395000 equity shares.

The Non Institutional Investors portion of the issue received bids for 568480 equity shares against the offer of 418500 equity shares resulting in a subscription of 1.3584 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 2.1850 times with bids for 2133640 equity shares against the offer of 976500 equity shares.

Source : Equity Bulls

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