NU TEK India IPO receives 1.63 times subscription

The Initial Public Offering (IPO) of NU TEK INDIA LIMITED which closed for subscription on August 1, 2008 has received 1.63 times subscription. The IPO opened for subscription on July 29, 2008.

The company had come out with an IPO of 45,00,000 EQUITY SHARES of Rs 10 each for cash at a price band of RS. 170 /- TO RS. 192 /- through 100% book-building process.

The IPO received bids for 7349220 equity shares against the offer of 4500000 equity shares. The issue received bids for 1471590 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription for 2.0559 times with bids for 4523010 equity shares against the offer of 2200000 equity shares.

The Non Institutional Investors portion of the issue received bids for 1175850 equity shares against the offer of 660000 shares resulting in a subscription of 1.7816 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 1.0096 times with bids for 1554750 equity shares against the offer of 1540000 shares.

The Employee Reservation portion received bids for 95610 equity shares against the offer of 100000 equity shares resulting in a subscription of 0.9561 times.

Source : Equity Bulls

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