Mahindra Holidays IPO oversubscribed by 8.80 times

The Initial Public Offering (IPO plus offer for sale) of MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED has received overwhelming response from investors with the issue receiving subscribtion of 9.80 times.

The company came out with an issue of 92,65,275 EQUITY SHARES of Rs 10 each for cash at a priceband of Rs 275 To Rs 325 through 100% book building process. The IPO opened for subscription on June 23, 2009 and closed on Friday - June 26, 2009.

The IPO has received total bids for 90833800 equity shares against the offer of 9265275 equity shares. The issue has received subscription of 8469720 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 12.8262 with bids for 71303160 shares against the offer of 5559165 shares.

The Non Institutional Investors portion of the issue received bids for 10197320 equity shares against the offer of 926527 shares resulting in a subscription of 11.0060 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 3.3578 times with bids for 9333320 shares against the offer of 2779582 shares.

Source : Equity Bulls

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