Non Institutional Investors bail out Future Ventures IPO

The Non Institutional Investors have bailed out the Initial Public Offering (IPO) of Future Group company Future Ventures India Limited. The issue failed to get full subscription for the reserved Qualified Institutional Buyers (QIBs) portion and Retail Individual Investors (RIIs) portion with subscription of just 0.26 times and 0.61 times respectively.

The Non Institutional Investors portion received overwhelming response with subscription of 7.81 times. Bids were placed for 878828400 equity shares against the offer of 112500000 equity shares under this quota.

Corporates have placed bids for 684312600 equity shares and Individuals (Other than RIIs) have placed bids for 194515800 equity shares.

The IPO opened for subscription on Apr 25, 2011 and closed on Apr 28, 2011.

Source : Equity Bulls

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