Pradip Overseas IPO receives subscription of 2.11 times

The Initial Public Offering (IPO) of Pradip Overseas Limited has received subscription of 2.11 times till 5:00 PM on March 11, 2010.

The IPO has received total bids for 22338300 equity shares against the offer of 10600000 equity shares. The issue has received bids for 5815740 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 1.0852 times with bids for 5480100 equity shares against the offer of 5050000 equity shares.

The Non Institutional Investors portion of the issue has received bids for 10687860 equity shares against the offer of 1515000 equity shares resulting in a subscription of 7.0547 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 1.7436 times with bids for 6163740 equity shares against the offer of 3535000 equity shares.

The Employee Reservation portion has received bids for 6600 equity shares against the offer of 500000 equity shares resulting in a subscription of 0.0132 times.

The IPO closes for subscription on March 15, 2010.

Source : Equity Bulls

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