Midfield Industries IPO garners subscription of 12.92 times

The Initial Public Offering (IPO) of Midfield Industries Limited received overwhelming response from investors with the issue garnering subscription of 12.92 times. The IPO closed for subscription on July 21, 2010.

The company came out with an IPO of 45,00,000 Equity Shares of Rs. 10/- each for cash at a price band of Rs 126 to Rs 133 through 100% Book Building process.

The Minimum Order Quantity was 50 Equity Shares and in multiples of 50 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000. The IPO opened for subscription on July 19, 2010.

The IPO received IPO Grading of BWR IPO Grade 2 from Brickwork Ratings India Pvt. Ltd.

Atherstone Capital Markets Limited was the Book Running Lead Manager and Chartered Capital and Investment Limited, Enam Securities Private Limited, SMC Global Securities Limited were the Syndicate Members to the IPO.

Bigshare Services Private Limited is the registrar to the company.

The IPO received total bids for 58148250 equity shares against the offer of 4500000 equity shares. The issue received bids for 20194000 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 1.86 times with bids for 4190050 equity shares against the offer of 2250000 equity shares.

The Non Institutional Investors portion of the issue received bids for 32675100 equity shares against the offer of 675000 equity shares resulting in a subscription of 48.41 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 13.51 times with bids for 21283100 equity shares against the offer of 1575000 equity shares.

Source : Equity Bulls

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