RPP Infra Projects IPO subscribed 2.97 times

The Initial Public Offering (IPO) of R.P.P. INFRA PROJECTS LIMITED has received subscription of 2.97 times. The company came out with IPO of 65,00,000 equity shares of Rs. 10 each for cash at a price band of Rs 68 to Rs 75 through 100% book building process.

The IPO received total bids for 19290720 equity shares against the offer of 6500000 equity shares. The issue received bids for 11181200 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue evoked poor response with bids for just 500960 equity shares against the offer of 3050000 equity shares resulting in a subscription of 0.16 times.

The Non Institutional Investors portion of the issue received subscription of 7.27 times with bids for 6655600 equity shares against the offer of 915000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 11961520 equity shares against the offer of 2135000 equity shares resulting in a subscription of 5.60 times.

The Employee Reservation portion received subscription of 0.43 times with bids for 172640 equity shares against the offer of 400000 equity shares.

The IPO closed for subscription on November 22, 2010.

Source : Equity Bulls

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