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IPO News
PTC India Financial Services IPO evokes lukewarm response
Posted On : 2011-03-17 10:02:50( TIMEZONE : IST )
The Initial Public Offering (IPO) of PTC India Financial Services Limited has received lukewarm response from investors. The IPO has received subscription of just 0.08 times at the end of second day.
The issue has received total bids for 11311750 equity shares against the offer of 133195000 equity shares. The issue has received bids for 5273250 equity shares at cut-off price.
The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for just 714250 equity shares against the offer of 54845000 equity shares resulting in a subscription of 0.01 times.
The Non Institutional Investors portion of the issue has received just bids for 77500 equity shares against the offer of 23505000 equity shares.
The Retail Individual Investors (RIIs) portion of the issue has received bids for 10520000 equity shares against the offer of 54845000 equity shares resulting in a subscription of 0.19 times.
The company has come out with Public issue of 156,700,000 Equity Shares of Rs 10/- each (including Anchor Portion of 23,505,000 equity shares) for cash at a price band of Rs.26 to Rs.28 through 100% book building process.
The Maximum Subscription Amount for Retail Investor is Rs.200000. The Minimum Order Quantity is 250 Equity Shares and in multiples of 250 Equity Shares.
Rating Agencies CARE, ICRA & CRISIL have assigned IPO grading of CARE IPO GRADE 4, ICRA IPO GRADE 4 and CRISIL IPO GRADE 3 respectively. SBI Capital Markets Limited, JM Financial Consultants Private Limited, ICICI Securities Limited and Almondz Global Securities Limited are the Book Running Lead Managers to the IPO. Avendus Capital Private Limited is the Co-Book Running Lead Manager of the issue.
SBICAP Securities Limited, Reliance Securities Limited and Avendus Securities Private Limited are the Syndicate Members to the issue. Karvy Computershare Private Limited is the registrar to the company.
The IPO opened for subscription on Mar 16, 2011 and closes for subscription on Mar 18, 2011.
