Electrosteel Steels IPO garners subscription of 8.23 times

The Initial Public Offering (IPO) of Electrosteel Steels Limited has received subscription of 8.23 times. The IPO opened for subscription on September 21, 2010 and closed for subscription on Friday - September 24, 2010.

The IPO received total bids for 1856319600 equity shares against the offer of 225516188 equity shares. The issue received bids for 372953400 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the IPO received subscription of 5.86 times with bids for 792678600 equity shares against the offer of 135309713 equity shares.

The Non Institutional Investors portion of the issue received bids for 644553600 equity shares against the offer of 22551619 equity shares resulting in a subscription of 28.58 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 6.19 times with bids for 419087400 equity shares against the offer of 67654856 equity shares.

Source : Equity Bulls

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