ICRA Public Issue evokes tremendous response, subscribed 75.04 times

The Offer for sale of ICRA Ltd has evoked tremendous response from all levels of investors with the issue receiving subscription for 75.04 times. The investors of the company have come out with Offer for sale of shares at a price band of Rs.275 to Rs.330 through 100% book building process.

The issue opened for subscription on March 20, 2007 adn closed on March 23, 2007. 25,81,100 Equity Shares were offered by IFCI Ltd, Administrator of the specified undertaking of the Unit Trust of India and State Bank of India.

The issue has received bids for 193686980 equity shares against the offer of 2581100 shares. The Total Bids Received at Cut-off Price is 45701100 equity shares.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received subscription of 90.6489 times resulting in bids for 116986920 shares against the offer of 1290550 shares. The Non Institutional Investors portion has received subscription of 27924100 shares against the offer of 387165 shares resulting in a subscription of 72.1245 times. The Retail Individual Investors (RIIs) portion has received subscription of 53.9924 times resulting in bids for 48775960 shares against the offer of 903385 shares.

Source : Equity Bulls

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