Claris Lifesciences IPO price band reduced to Rs.228 to Rs.235

The price band of Claris Lifesciences Limited IPO has been revised from Rs.278 - Rs.293 to Rs.228 to Rs.235. The Book Running Lead Managers announced this after the issue failed to garner full subscription on the earlier closing day on November 26, 2010.

The IPO will now close for subscription on December 2, 2010. The post issue modification date has been revised to December 3, 2010 instead of the earlier closing day on November 27, 2010.

As on November 26, 2010 the IPO received subscription of 0.44 times. The issue received bids for 4715106 equity shares against the offer of 10789474 equity shares. The issue received bids for 3300220 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 699490 equity shares against the offer of 4572152 equity shares resulting in a subscription of 0.15 times.

The Non Institutional Investors portion of the issue received subscription of 0.10 times with bids for 109890 equity shares against the offer of 1069192 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 3905726 equity shares against the offer of 3207577 equity shares resulting in a subscription of 1.22 times.

Source : Equity Bulls

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