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IPO News
Shipping Corporation of India allots shares on FPO
Posted On : 2010-12-14 02:36:35( TIMEZONE : IST )
Shipping Corporation of India Ltd has announced that the Further Public Offer ("Issue") of the Company received 308,888 valid banking applications for 406,795,350 Equity Shares resulting in 4.80 times subscription. The basis of allotment and allocation in relation to the Further Public Offer of the Company, as finalized in consultation with the National Stock Exchange of India Ltd, being the 'Designated Stock Exchange', and approved by the FPO Committee of the Board of Directors of the Company, at its meeting held on December 13, 2010.
The Employees portion was subscribed 0.16 times. The total number of Equity Shares allotted in the 'Employee Reservation Portion' was 52,000. The under subscribed portion of 371,454 Equity Shares has been added to the 'Net Issue', being the Issue less the 'Employee Reservation Portion'.
The Retail portion was subscribed 6.35 times. Overall, 303,639 applications for 185,199,050 Equity Shares were found valid and were considered for allotment on a proportionate basis. The number of shares allotted in this category was 29,623,556 (including a spill - over of 130,009 Equity Shares from the employee category) to 241081 applicants.
The 'Non-Institutional Portion' was subscribed to the extent of 3.41 times. Overall, 205 applications for 35,298,350 Equity Shares were found valid and were considered for Allotment. The total number of Equity Shares allotted in this category was 12,695,809 (including a spill - over of 55,718 Equity Shares from the employee category) to 205 applicants.
The 'QIB Portion' was subscribed to the extent of 4.19 times. Overall, 39 applications for 171,195,550 Equity Shares were found valid and the quantum of Equity Shares Allotted to this category was 42,319,365 (including a spill- over of 185,727 Equity Shares from the employee category).
The stock was trading at Rs.139.30, up by Rs.0.10 or 0.07%. The stock hit an intraday high of Rs.142.25 and low of Rs.138.55.
The total traded quantity was 1.67 lakhs compared to 2 week average of 1.17 lakhs.