Binani Cement Ltd issue receives 1.36 times subscription

The Initial Public Offering of Binani Cement Ltd received 1.36 times subscription. The IPO which was an offer for sale by existing investor JPMorgan Special Situations (Mauritius) Ltd. The IPO which opened for subscription on May 07, 2007 closed on Thursday - May 10, 2007.

The issue received bids for 27863280 equity shares compared to the issue size of 27863280 equity shares. The issue has received bids for 8953600 shares at cut-off price.

Out of the issue, Qualified Institutional Buyers (QIBs) portion has received subscription of 1.3254 times with bids for 16302400 shares compared to the offer of 12300000 shares. The Non Institutional Investors portion has received bids for 1595120 shares against the offer of 2050000 shares resulting in a subscription of 0.7781 times. The Retail Individual Investors (RIIs) portion has received bids for 9965760 equity shares against the offer of 6150000 shares resulting in a subscription of 1.6204 times.

Source : Equity Bulls

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