Godrej Properties IPO subscribed 1.28 times

The Initial Public Offering (IPO) of Godrej Properties Limited has received subscription of 1.28 times with bids for 9895405 equity shares against the offer of 7732405 equity shares. The issue has received bids for 214526 equity shares at cut-off price.

The company has come out with an IPO of 9429750 equity shares [including Anchor investor portion of 16,97,345 equity shares] of Rs 10 each for cash at a price band of Rs. 490 To Rs. 530 through 100% book building process. The issue opened for subscription on Dec 09, 2009 and closes on Dec 11, 2009.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 2.4261 times with bids for 9608534 equity shares against the offer of 3960505 equity shares.

The Non Institutional Investors portion of the issue has received bids for 51181 equity shares against the offer of 942975 equity shares resulting in a subscription of 0.0543 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.0833 times with bids for 235690 equity shares against the offer of 2828925 equity shares.

Source : Equity Bulls

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