Idea Cellular Ltd IPO subscription nears half-century mark, issue subscribed 49.51 times

The Initial Public Offering (IPO) of Birla group mobile phone operated Idea Cellular Ltd has evoked tremendous response from the investing community with the issue receiving subscription for 49.51 times.

The company came out with an IPO of 326923077 equity shares of Rs.10 each in a price band of Rs.65 to Rs.75. The issue closed on Thursday - February 15, 2007.

The company has received subscription for 16187564070 equity shares against the total issue of 326923077 shares. The issue received subscription of 49.51 times. The issue received subscription for 357124500 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription for 15071087700 shares against the issue of 191538461 shares, resulting in a subscription of 78.6844 times. The Non Institutional Investors portion received subscription of 728397450 against issue of 31923077 shares. The Retail Individual Investors (RIIs) poriton received subscription of 3.8712 times, receiving bids for 370745280 shares against the issue of 95769231 shares and the employees quota received subscription of 2.2534 times. The company had offered Employee Reservation of 7692308 shares and received bids for 17333640 shares.

Source : Equity Bulls

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