IndoSolar IPO subscribed 1.55 times

The Initial Public Offering of IndoSolar Limited received subscription of 1.55 times. The IPO opened for subscription on September 13, 2010 and closed for subscription on September 15 2010.

The IPO received subscription for 190308000 equity shares against the offer of 123103448 equity shares resulting in a subscription of 1.55 times. The issue received bids for 70838200 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 88337000 equity shares against the offer of 61551724 equity shares resulting in a subscription of 1.44 times.

The Non Institutional Investors portion of the issue received subscription of 1.30 times with bids for 24069600 equity shares against the offer of 18465517 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 77901400 equity shares against the offer of 43086207 equity shares resulting in a subscription of 1.81 times.

The company came with an IPO of 123103448 equity shares of Rs 10 each for cash at a price band of Rs 29 to Rs 32 through 100% book building process.

The Minimum Order Quantity was 200 equity shares and in multiples of 200 equity shares. The Maximum Subscription Amount for Retail Investor was Rs 100000.

CRISIL has given IPO Grading of IPO Grade 3 for the issue. Enam Securities Private Limited was the Book Running Lead Manager and Syndicate Member for the IPO. Link Intime India Private Limited is the registrar to the company.

Source : Equity Bulls

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