Broadcast Initiatives Ltd IPO receives subscription of 2.76 times

The Initial Public Offering of Broadcast Initiatives Ltd received bids for 2.76 times of the issue. The company offered 8550000 Equity Shares to investors.

The IPO was open for subscription from February 09, 2007 to February 14, 2007.

The issue received bids for 23567200 equity shares compared to the total issue size of 8550000 shares. Bids for 8267300 equity shares were received at cut-off price.

The Qualified Institutional Bidders (QIBs) portion of the issue received bids for 6790000 shares against the offer of 4225000 shares resulting in a subscription of 1.6071 times. The Non Institutional Investors portion received bids for 8177800 equity shares against the offer of 1267500 shares. The Retail Individual Investors (RIIs) portion received subscription for 2.8865 times, with bids for 8536700 shares against the offer of 2957500 equity shares. The employees portion of the issue received bids for 62700 equity shares against the offer of 100000 shares resulting in a subscription of 0.6270 times.

Source : Equity Bulls

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