ASTEC LIFESCIENCES IPO subscribed 0.42 times

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.

Source : Equity Bulls

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