Ravi Kumar Distilleries IPO garners subscription of 2.22 times

The Initial Public Offering (IPO) of Ravi Kumar Distilleries Limited has received subscription of 2.22 times. The company came with IPO of 11500000 equity shares of Rs.10 each for cash at a price band of Rs 56 to Rs 64 through 100% book building process.

The IPO has received total bids for 25559200 equity shares against the offer of 11500000 equity shares resulting in a subscription of 2.22 times. The issue received bids for 11428000 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.15 times with bids for 840600 equity shares against the offer of 5750000 equity shares.

The Non Institutional Investors portion of the IPO received bids for 12607100 equity shares against the offer of 1725000 equity shares with a subscription of 7.31 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 3.01 times with bids for 12111500 equity shares against the offer of 4025000 equity shares.

The IPO opened for subscription on December 8, 2010 and closed on December 10, 2010.

Comfort Securities Pvt Ltd was the Book Running Lead Manager and Syndicate Member to the IPO. Karvy Computershare Private Limited is the registrar to the company.

Source : Equity Bulls

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