NMDC FPO subscribed 0.83 times, struggling to get full subscription

The Further Public Offer of NMDC Limited is closing for subscription today - Friday - March 12, 2010. The FPO is struggling to get full subscription on the last day. Till 1:00 PM, the FPO had received subscription of 0.83 times.

The FPO has received total bids for 275955500 equity shares against the offer of 332243200 equity shares. The issue has received bids for 4271500 equity shares at cut-off price.

The company has come out with FPO of 332,243,200 Equity Shares of Rs 1 each for cash at a price band of Rs.300 to Rs.350 through 100% book building process.

The FPO opened for subscription on March 10, 2010.

Source : Equity Bulls

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