Orbit Corporation Limited IPO receives 3.85 times subscription

The Initial Public Offering of Orbit Corporation Limited has received subscription of 3.5 times. The company came out with an IPO of 91,00,000 Equity Shares at a price band of Rs.108 to Rs.117 through 100% Book Building process.

The issue has received bids for 35038250 equity shares against the offer of 9100000 equity shares. The issue has received bids for 2301800 equity shares at Cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription for 25942700 equity shares against the offer of 4550000 equity shares resulting in a subscription of 5.7017 times. The Non Institutional Investors portion of the issue has received subscription of 4.5951 times resulting in bids for 6272250 equity shares against the offer of 1365000 equity shares. The Retail Individual Investors (RIIs) portion has received subscription of 2823300 equity shares against the offer of 3185000 equity shares resulting in subscription of 0.8864 times.

Source : Equity Bulls

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