Indiabulls Power IPO subscribed 21.84 times

The Initial Public Offering (IPO) of Indiabulls Power Ltd which opened for subscription on October 12, 2009 has received subscription of 21.84 times with bids for 6086259600 equity shares against the offer of 278636000 equity shares. The issue has received subscription for 101987850 equity shares at cut-off price.

The company has come out with an IPO of 339,800,000 Equity Shares [Excluding Green Shoe Option of 50,900,000 Equity Shares and Including Anchor investor portion upto 61,164,000 equity shares] of Rs 10 each for cash at a price band of Rs. 40 To Rs. 45 through 100% Book Building process.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 5779168650 equity shares against the offer of 142716000 equity shares resulting in a subscription of 40.4942 times.

The Non Institutional Investors portion of the issue has received subscription of 5.7636 times with bids for 195846900 equity shares against the offer of 33980000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 111244050 equity shares against the offer of 101940000 equity shares resulting in a subscription of 1.0913 times.

Source : Equity Bulls

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