Microsec Financial Services IPO garners subscription of 12.20 times

The Initial Public Offering (IPO) of Microsec Financial Services Limited has received subscription of 12.20 times with total bids for 152470448 equity shares against the offer of 12500000 equity shares.

The company came out with IPO of 125,00,000 Equity Shares of Rs. 10/- each for cash at a price band of Rs 113 to Rs 118 through 100% book building process.

The issue received bids for 45058520 equity shares at cut-off price. The IPO opened for subscription on September 17, 2010 and closed for subscription on September 21, 2010.

The Rating Agency CRISIL had given IPO Grading of IPO Grade 2 for the issue.

Source : Equity Bulls

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