Solar Explosives Ltd IPO oversubscribed 13.01 times

The IPO of Solar Explosives Ltd has evoked good response from investors with the issue receiving subscription for 14.01 times resulting in an oversubscription of 13.01 times. The company came out with an IPO of 44,00,000 equity shares at a price band of Rs.170 to Rs.190. The issue opened on March 9, 2006 and closed on March 13, 2006.

The Qualified Institutional Bidders (QIBs) portion of the issue subscribed for 20.2674 times, Non-Institutional Investors portion 11.7459 times, Employees portion 1.1265 times and the retail investors portion received subscription for 6.5441 times.

Source : Equity Bulls

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