Texmo Pipes & Products IPO subscribed 1.75 times

The Initial Public Offering (IPO) of Texmo Pipes & Products Limited has received subscription of 1.75 times as on 5:00 PM - February 18, 2010.

The company has come out with IPO of 50,00,000 equity shares of Rs 10 each for cash at a price band of Rs.85 to Rs.90 through 100% book building process. The IPO opened for subscription on February 16, 2010.

The IPO received subscription of 1.75 times with bids for 8730525 equity shares against the offer of 5000000 equity shares. The issue received bids for 2048400 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 2499900 equity shares against the offer of 2450000 equity shares resulting in a subscription of 1.0204 times.

The Non Institutional Investors portion of the issue received subscription of 5.6239 times with bids for 4133550 equity shares against the offer of 735000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 2091300 equity shares against the offer of 1715000 equity shares resulting in a subscription of 1.2194 times.

The Employee Reservation portion of the issue has received subscription of 0.0578 times with bids for 5775 equity shares against the offer of 100000 equity shares.

The IPO closes for subscription on February 19, 2010.

Source : Equity Bulls

Keywords