Persistent Systems IPO receives subscription of 91.99 times

The Initial Public Offering (IPO) of Persistent Systems Limited has received overwhelming response from investors with the issue receiving subscription of 91.99 times till 4:00 PM on March 19, 2010.

The IPO has received total bids for 498535500 equity shares against the offer of 5419706 equity shares. The issue has received bids for 20704400 equity shares at cut-off price.

The company has come out with IPO of 5,419,706 shares of Rs 10 each for cash at a price band of Rs.290 to Rs. 310 through 100% book building process.

The IPO opened for subscription on March 17, 2010 and closes for subscription today - March 19, 2010.

Source : Equity Bulls

Keywords