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Posted On : 2010-10-06 06:53:59( TIMEZONE : IST )
The Initial Public Offering (IPO) of BS Transcomm Limited which opened for subscription by investors today, has received subscription of 0.40 times. The issue has received total bids for 3073700 equity shares against the offer of 7679410 equity shares. The IPO received bids for 1167600 equity shares at cut-off price.
The company has come out with an IPO of 76,79,410 Equity Shares of Rs.10 each for cash at a price band of Rs 257/- to Rs 266/- through 100% Book Building process. The Minimum Order Quantity is 25 Equity Shares and in multiples of 25 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.
The Rating Agency ICRA has assigned IPO Grading of IPO Grade 2. JM Financial Consultants Private Limited is the Book Running Lead Manager to the issue. JM Financial Services Private Limited and Sunidhi Securities and Finance Limited are the Syndicate Members to the IPO.
Karvy Computershare Private Limited is the registrar for the company. The IPO closes for subscription on October 8, 2010.
The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 9375 equity shares against the offer of 3839705 equity shares.
The Non Institutional Investors portion of the issue has received subscription of 1.62 times with bids for 1864700 equity shares against the offer of 1151911 equity shares.
The Retail Individual Investors (RIIs) portion of the issue has received bids for 1199625 equity shares against the offer of 2687794 equity shares resulting in a subscription of 0.45 times.
