Infinite Computer Solutions India IPO subscribed 19.17 times

The Initial Public Offering (IPO) of Infinite Computer Solutions India Ltd has received subscription of 19.17 times till 2:00 PM on January 13, 2010.

The company has come out with IPO of 11503000 equity shares [including Anchor investor portion of 1725450 equity shares] of Rs 10 each for cash at a price band of Rs. 155 To Rs.165 through 100% book building process.

The IPO has received bids for 187392840 equity shares against the offer of 9777550 equity shares resulting in a subscription of 19.17 times. The issue has received bids for 13717960 equity shares at cut-off price.

The rating agency CRISIL had given IPO grading IPO GRADE 2/5.

India Infoline Limited and Spa Merchant Bankers Limited are the Book Running Lead Managers to the issue.

India Infoline Limited, SPA Securities Limited, Avendus Capital Private Limited and Reliance Securities Limited are the syndicate members to the issue.

Bigshare Services Pvt. Ltd is the registrar to the company.

Source : Equity Bulls

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