Mandhana Industries IPO subscribed 6.32 times

The Initial Public Offering (IPO) of Mandhana Industries Limited has received subscription of 6.32 times. The IPO opened for subscription by investors on April 27, 2010 and closed on Thursday - April 29, 2010.

The IPO has received total bids for 45143050 equity shares against the offer of 7146150 equity shares. The issue has received bids for 7482950 equity shares at cut-off price.

The company had come out with IPO of 83,00,000 equity shares (including Anchor investor portion of 11,53,850 equity shares) of Rs 10 each for cash at a price band of Rs 120 to Rs 130 through 100% book building process.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 7.9747 times with bids for 23893300 equity shares against the offer of 2996150 equity shares.

The Non Institutional Investors portion of the issue has received bids for 13095750 equity shares against the offer of 1245000 equity shares resulting in a subscription of 10.5187 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 2.8069 times with bids for 8154000 equity shares against the offer of 2905000 equity shares.

Source : Equity Bulls

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