Man Infraconstruction IPO receives subscription of 3.10 times

The Initial Public Offering (IPO) of Man Infraconstruction Limited has received subscription of 3.10 times as on 5:00 PM - February 18, 2010. The issue got subscribed fully on the first day itself.

The company has come out with IPO of 56,25,150 equity shares (including 9,72,000 shares for anchor investors) of Rs 10 each for cash at a price band of Rs.243 to Rs.252 through 100% book building process.

The IPO received bids for 14409538 equity shares against the offer of 4653150 equity shares. The IPO received bids for 282238 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 4.1341 times with bids for 9376070 equity shares against the offer of 2268000 equity shares.

The Non Institutional Investors portion of the issue has received bids for 4717768 equity shares against the offer of 540000 equity shares resulting in a subscription of 8.7366 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.1949 times with bids for 315700 equity shares against the offer of 1620000 equity shares.

The Employee Reservation portion of the issue has received no subscription against the offer of 225150 equity shares.

The IPO closes for subscription on February 22, 2010.

Source : Equity Bulls

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