Birla Sholka Edutech FPO subscribed 0.86 times

The Follow-on Public Offering (FPO) of Birla Sholka Edutech Ltd has received subscription of 0.86 times till 2:00 PM on January 13, 2010.

The company has come out with FPO of Equity Shares Aggregating To Rs. 2977.50 Lakhs(Excluding Promoter's Contribution Aggregating To Rs. 500.00 Lakhs). The company has priced the equity shares of Rs 10 each for cash at a price band of Rs. 45 To Rs.50 through 100% book building process.

Ashika Capital Limited is the Book Running Lead Manager to the FPO. Ashika Stock Broking Limited, Mangal Keshav Securities Limited and Guiness Securities Limited are the syndicate members to the FPO.

Bigshare Services Private Limited is the registrar to the company.

The FPO opened for subscription on January 11, 2010 and closes today - January 13, 2010.

The FPO has received bids for 5681760 equity shares against the offer of 6616670 equity shares resulting in a subscription of 0.86 times.

The issue has received bids for 1570080 equity shares at cut-off price.

Source : Equity Bulls

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