Gyscoal Alloys IPO subscribed 1.83 times

The Initial Public Offering (IPO) of Gyscoal Alloys Limited which opened for subscription by investors on October 13, 2010 has received subscription of 1.83 times.

The company has come out with IPO of 77,00,000 equity shares of face value of Rs 10 each for cash at a price band of Rs 65 to Rs 71 through 100% book building process.

The issue received total bids for 14118210 equity shares against the offer of 7700000 equity shares. The issue received bids for 8403030 equity shares at cut-off price.

The IPO closes for subscription on October 15, 2010.

Source : Equity Bulls

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