Innoventive Industries IPO garners subscription of 0.33 times

The Initial Public Offering (IPO) of Innoventive Industries Limited has received subscription of 0.33 times. The IPO opened for subscription by investors on April 26, 2011.

The IPO has received total bids for 6162300 equity shares against the offer of 18767521 equity shares. The issue has received bids for 2735650 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 0.36 times with bids for 3333200 equity shares against the offer of 9383760 equity shares.

The Non Institutional Investors portion of the issue has received bids for just 8300 equity shares against the offer of 2815128 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.43 times with bids for 2820800 equity shares against the offer of 6568633 equity shares.

The issue closes for subscription on Apr 29, 2011. For QIB bidders Issue closes on Apr 28, 2011.

Source : Equity Bulls

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