IVR Prime Urban Developers Limited IPO receives 5.75 times subscription

The Initial Public offering of IVR Prime Urban Developers Limited which closed for subscription on July 26, 2007 has received moderate response from investors with the company receiving 5.75 times subscription.

The company's IPO opened for subscription on July 23,2007. The company issued 14150000 Equity Shares of Rs.10 each for cash at a price band of Rs.510/- to Rs.600/- through 100% book-building issue.

The company received bids for 81389080 shares against the offer of 14150000. The issue received 6320060 equity shares at cut-off price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion of the issue received bids for 72218560 shares against the offer of 8400000 shares resulting in a subcription of 8.5974 times.

The Non Institutional Investors portion of the issue received subscription of 1.8521 times with bids for 2592930 shares against the offer of 1400000 shares.

The Retail Individual Investors (RIIs) portion received bids for 6469640 shares against the offer of 4200000 shares resulting in a subscription of 1.5404 times.

The Employee Reservation portion received bids for 0.7197 times with bids for 107950 shares against the offer of 150000 shares.

Source : Equity Bulls

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