SMS Pharmaceuticals Ltd IPO scrapes through, receives 2.64 times subscription

The Initial Public Offering of SMS Pharmaceuticals Ltd which closed on Thursday (February 8, 2007)has received subscription of 2.64 times. The company came out with an IPO of 2,577,000 Equity Shares of Rs.10 each for cash at par in a price band of Rs.360/- to Rs.380/- through 100% book building process.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription for 4470300 resulting in a subscription of 3.4694 times, Non Institutional Investors portion received bids for just 109755 equity shares resulting in a meagre subscription of 0.2839 times and the Retail Individual Investors (RIIs) portion received bids for 2.4715 times (2229165 shares).

UTI Securities Ltd is the Book Running Lead Manager for the issue. AARTHI CONSULTANTS PVT LTD is the Registrar to the Issue.

Out of the issue, 1,288,500 equity shares have been reserved for Qualified Institutional Buyers (QIBs), 386,550 shares for Non Institutional Investors and 901,950 shares for Retail Individual Investors (RIIs).

The company's website is SMS Pharmaceuticals Ltd

Click on the link for company's IPO prospectus SMS Pharmaceuticals Ltd Prospectus

Source : Equity Bulls

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