Persistent Systems IPO subscribed 93.60 times

The Initial Public Offering (IPO) of Persistent Systems Limited received over-whelming response from investors with subscription of 93.60 times. The IPO opened for subscription on Mar 17, 2010 and closed for subscription on Mar 19, 2010.

The company had 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 received total bids for 507304700 equity shares against the offer of 5419706 equity shares. The issue received bids for 29172500 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received total bids for 422687360 equity shares against the offer of 2926638 equity shares resulting in a subscription of 144.4276 times.

The Non Institutional Investors portion of the issue has received subscirption of 107.7328 times with bids for 52549140 equity shares against the offer of 487773 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 31737820 equity shares against the offer of 1463319 equity shares resulting in a subscription of 21.6889 times.

The Employee Reservation portion received subscription of 0.6096 times with bids for 330380 equity shares against the offer of 541976 equity shares.

Source : Equity Bulls

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