Rishabdev Technocable Public Issue receives 7.76 times subscription

The follow-on public offering of Rishabdev Technocable Ltd received subscription of 7.76 times. The company came out with a follow-on offer of 68,54,500 EQUITY SHARES (Excluding promoters contribution 21,45,500 Equity Shares).

The company issued shares of Rs. 10/- each for cash at a price band of Rs. 29 To Rs. 33.

The issue opened for subscription on Jun 04, 2009 and closed on Jun 09, 2009.

IDBI Capital Market Services Ltd, PL Capital Markets Pvt. Ltd were the Book Running Lead Managers and Ashika Capital Ltd was the Co-Book Running lead Manager to the issue.

M/s. Prabhudas Lilladher Private Ltd, Ashika Stock Broking Ltd, Mangal Keshav Securities Ltd, Guiness Securities Ltd were the Syndicate Members to the issue.

MONDKAR COMPUTERS PRIVATE LIMITED was the registrar to the company.

The issue received bids for 53171600 equity shares against the offer of 6854500 equity shares. The company received bids for 39297000 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 775600 equity shares against the offer of 3427250 equity shares resulting in a subscription of 0.2263 times.

The Non Institutional Investors portion of the issue received subscription of 12.1516 times with bids 12494000 equity shares against the offer of 1028175 shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 39902000 equity shares against the offer of 2399075 shares resulting in a subscription of 16.6322 times.

Source : Equity Bulls

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