The Initial Public Offering (IPO) of ASTEC LIFESCIENCES LIMITED which opened for subscription by investors on October 29, 2009 has received subscription of 0.42 times till 12:00 Noon on November 3, 2009.
The company has come out with an IPO of 7500000 equity shares of Rs 10 each for cash at a price band of Rs. 77 To Rs. 82 through 100% Book Building process.
The issue has received IPO GRADE 2 rating from CARE.
The issue has received bids for 3118425 equity shares against the offer of 7500000 equity shares resulting in a subscription of 0.42 times.
The issue has received subscription for 1170525 equity shares at cut-off price.
The IPO closes for subscription on November 04, 2009.