Engineers India FPO garners subscription of 11.63 times

The Further Public Offer (FPO) of Engineers India Limited has received overwhelming response from Qualified Institutional Buyers (QIBs) with the issue garnering subscription of 11.63 times till 5:00 PM IST on July 29, 2010.

The FPO has received bids for 391810160 equity shares against the offer of 33693660 equity shares. The issue has received bids for 3301280 equity shares at cut-off price.

The issue closed today - July 29, 2010 for QIB bidders. The issue closes for subscription on July 30 2010 for other bidders.

The 100% book-built FPO of 33,693,660 equity shares of Rs. 5 each is priced between Rs 270 to Rs 290.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 386338640 equity shares against the offer of 16490830 equity shares resulting in a subscription of 23.43 times.

The Non Institutional Investors portion of the issue has received subscription of 0.14 times with bids for 681140 equity shares against the offer of 4947249 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 4721620 equity shares against the offer of 11543581 equity shares resulting in a subscription of 0.41 times.

The Employee Reservation portion has received subscription of 0.10 times with bids for 68760 equity shares against the offer of 712000 equity shares.

Source : Equity Bulls

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