Bhagwati Banquets & Hotels Limited IPO subscribed 1.83 times

The Initial Public Offering of Bhagwati Banquets & Hotels Limited closed for subscription on April 25, 2007 has received bids for 1.83 times of the total issue. The issue has received total bids for 33697825 equity shares against the issue size of 18455400 shares.

The company has received bids for 19229175 shares at Cut-off Price. The IPO opened for subscription on April 18, 2007.

Out of the issue, 9227700 were reserved for Qualified Institutional Buyers (QIBs) which received subscription for 3912475 shares resulting in a subscription of 0.4240 times. The Non Institutional Investors portion of the issue received subcription for 9813825 shares against the offer of 2768310 shares resulting in a subscription of 3.5451 times. The Retail Individual Investors (RIIs) portion received subscription of 3.0919 times with bids for 19971525 shares against the offer of 6459390 shares.

Source : Equity Bulls

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