Emmbi Polyarns IPO scrapes through, receives 1.20 times subscription

The Initial Public Offering (IPO) of Emmbi Polyarns Limited scraped through with subscription of 1.20 times. The IPO opened for subscription on February 1, 2010 and closed for subscription on February 3, 2010.

The company came out with IPO of 95,74,000 equity shares of Rs 10 each for cash at a price band of Rs.40 to Rs.45 through 100% book building process.

Keynote Corporate Service Limited is the Book Running Lead Manager to the issue and Keynote Capitals Limited was the syndicate member. Datamatics Financial Services Limited is the registrar to the company.

The Rating Agency CARE assigned IPO Grading of CARE IPO Grade 2 for the issue.

The IPO received total bids for 11505450 equity shares against the offer of 9574000 equity shares. The issue received bids for 1363050 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.4284 times with bids for 2040000 equity shares against the offer of 4762000 equity shares.

The Non Institutional Investors portion fo the issue received bids for 7933500 equity shares against the offer of 1428600 equity shares resulting in a subscription of 5.5533 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 0.4595 times with bids for 1531650 equity shares against the offer of 3333400 equity shares.

The Employee Reservation portion received bids for 300 equity shares against the offer of 50000 equity shares resulting in a subscription of 0.0060 times.

Source : Equity Bulls

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