Pradip Overseas IPO subscribed 14.08 times

The Initial Public Offering (IPO) of Pradip Overseas Limited has received subscription of 14.08 times. The IPO opened for subscription on March 11, 2010 and closed for subscription on March 15, 2010.

The company had come out with IPO of 1,06,00,000 equity shares of Rs 10 each for cash at a price band of Rs. 100 to Rs. 110 through 100% book building process.

The IPO received total bids for 149261280 equity shares against the offer of 10600000 equity shares. The issue received bids for 33391560 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 8.5740 times with bids for 43298700 equity shares against the offer of 5050000 equity shares.

The Non Institutional Investors portion of the issue has received bids for 68708760 equity shares against the offer of 1515000 equity shares resulting in a subscription of 45.3523 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 10.5262 times with bids for 37210140 equity shares against the offer of 3535000 equity shares.

The Employee Reservation portion has received bids for 43680 equity shares against the offer of 500000 equity shares resulting in a subscription of 0.0874 times.

Source : Equity Bulls

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