Edserv Softsystems IPO receives 1.30 times subscription

The Initial Public Offering of EDSERV SOFTSYSTEMS LIMITED which closed for subscription today (February 9, 2009 - Monday) has received 1.30 times susbcription till 5:00 PM. The IPO opened for subscription on February 05, 2009.

The company has come out with an IPO of 39,73,908 EQUITY SHARES of Rs 10 each for cash at a price band of Rs. 55 To Rs. 60 through 100% book-building process.

Keynote Corporate Services Limited is the Book Running Lead Manager to the issue. Ashika Capital Limited is the Co Book Running Lead Manager to the issue. Keynote Capitals Limited, Ashika Stock Broking Limited are the Syndicate Members to the issue.

Karvy Computershare Private Limited is the Registrar to the issue.

The IPO has received subscription for 5149000 equity shares against the offer of 3973908 equity shares resulting in a subscription of 1.30 times.

The issue has received subscription for 1309700 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 1.0776 times with bids for 2033300 equity shares against the offer of 1886954 equity shares.

The Non Institutional Investors portion of the issue has received bids for 1757600 equity shares against the offer of 566086 equity shares resulting in a subscription of 3.1048 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 1.0223 times with bids for 1350300 equity shares against the offer of 1320868 equity shares. The Employee Reservation portion has received subscription of 0.0390 times with bids for just 7800 equity shares against the offer of 200000 equity shares.

Source : Equity Bulls

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