Shipping Corporation of India FPO garners subscription of 2.32 times

The Futher Public Offering (FPO) of Shipping Corporation of India Limited has received subscription of 2.32 times. The issue has received total bids for 196886350 equity shares against the offer of 84690730 equity shares.

The issue has received bids for 8676350 equity shares at cut-off price. The Retail Individual Investors (RIIs) portion of the issue has received total subscription of 0.56 times with bids for 16645000 equity shares against the offer of 29493547 equity shares.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 4.19 times with bids for 176702850 equity shares against the offer of 42133638 equity shares.

The Non Institutional Investors portion of the issue has received bids for 3528200 equity shares against the offer of 12640091 equity shares resulting in a subscription of 0.28 times.

The Employee Reservation portion has received subscription of 0.02 times with bids for 10300 equity shares against the offer of 423454 equity shares.

The FPO closed for subscription by QIBs on December 2, 2010 and closes for subscription by all other investors tomorrow - December 3, 2010.

Source : Equity Bulls

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