ARSS Infrastructure Projects IPO gets subscription of 47.62 times

The Initial Public Offering (IPO) of ARSS INFRASTRUCTURE PROJECTS LIMITED has received overwhelming response from investors with the IPO garnering subscription of 47.62 times. The IPO has received bids for 119640765 equity shares against the offer of 2512195 equity shares. The issue has received bids for 12806745 equity shares at cut-off price.

The company came out with IPO of equity shares of Rs 10 each for cash at a price band of Rs 410 to Rs 450 aggregating upto Rs.10300 lacs through 100% book building process.

The IPO opened for subscription on February 8, 2010 and closed for subscription today - February 11, 2010.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 49.3442 times with bids for 74377365 equity shares against the offer of 1507317 equity shares.

The Non Institutional Investors portion of the IPO received bids for 31283985 equity shares against the offer of 251219 equity shares resulting in a subscription of 124.5287 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 18.5487 times with bids for 13979415 equity shares against the offer of 753659 equity shares.

Source : Equity Bulls

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