Vascon Engineers IPO subscribed 1.22 times

The Initial Public Offering of Vascon Engineers Ltd has received subscription of 1.22 times. The IPO opened for subscription on January 27, 2010 and closed for subscription on January 29, 2010.

The company came out with IPO of 10,800,000 equity shares of Rs 10 each for cash at a price band of Rs. 165 to Rs. 185 through 100% book building process.

The IPO received total bids for 13141695 equity shares against the offer of 10800000 equity shares. The issue received bids for 1790390 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 7197085 equity shares against the offer of 6420000 equity shares resulting in a subscription of 1.1210 times.

The Non Institutional Investors portion of the issue received subscription of 3.6458 times with bids for 3901030 equity shares against the offer of 1070000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 1990065 equity shares against the offer of 3210000 equity shares resulting in a susbcription of 0.6200 times.

The Employee Reservation portion of the issue received subscription of 0.5352 times with bids for 53515 equity shares against the offer of 100000 equity shares.

Source : Equity Bulls

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