Astec Lifesciences IPO subscribed 1.56 times

The Initial Public Offering (IPO) of ASTEC LIFESCIENCES LIMITED which opened for subscription by investors on October 29, 2009 has received subscription of 1.56 times.

The company had 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 was assigned IPO GRADE 2 rating from CARE.

The issue has received bids for 11733525 equity shares against the offer of 7500000 equity shares resulting in a subscription of 0.42 times. The issue has received subscription for 5971950 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 2246775 equity shares against the offer of 3700000 equity shares resulting in a subscription of 0.6072 times.

The Non Institutional Investors portion of the issue has received subscription of 2.9997 times with bids for 3329700 equity shares against the offer of 1110000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 6106950 equity shares against the offer of 2590000 equity shares resulting in a subscription of 2.3579 times.

The Employee Reservation has received subscription of 0.5010 times with bids for 50100 equity shars against the offer of 100000 equity shares.

The IPO closed for subscription on November 04, 2009.

Source : Equity Bulls

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