SJVN IPO receives subscription of 6.64 times

The Initial Public Offering of SJVN Limited which closed for subscription on May 3, 2010 has received average response from investors with the issue garnering subscription of 6.64 times.

The IPO has received total bids for 2754524000 equity shares against the offer of 415000000 equity shares. The issue has received bids for 326502000 equity shares at cut-off price. The bulk of the bids have come at the upper end of the price band of Rs 26.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 2229445750 equity shares against the offer of 246990000 equity shares resulting in a subscription of 9.0265 times.

The Non Institutional Investors portion of the issue has received subscription of 3.3873 times with bids for 139437000 equity shares against the offer of 41165000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 384816250 equity shares against the offer of 123495000 equity shares resulting in a subscription of 3.1160 times.

The Employee Reservation portion has received subscription of 0.2463 times with bids for 825000 equity shares against the offer of 3350000 equity shares.

Source : Equity Bulls

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