Domestic Institutions shore up NMDC FPO subscription

The Follow-on Public Offering (FPO) of NMDC Limited has received good response from Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) who have shored up the subscription to 0.79 times till 5:00 PM on March 11, 2010.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 1.5567 times with bids for 257238820 equity shares against the offer of 165250000 equity shares. Under the QIBs portion, Foreign Institutional Investors (FIIs) have subscribed for 3177460 equity shares.

But, Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) have applied for 254061360 equity shares. Mutual Funds and other have not applied for any shares till the end of second day.

The FPO closes for subscription on March 11, 2010.

Source : Equity Bulls

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