Purvankara Projects Limited IPO closes today

The Initial Public Offering (IPO) of Purvankara Projects Limited will close for subscription today - Friday, August 3, 2007. The company has come out with an IPO of 21,467,610 Equity Shares of Rs.5 each at a price band of Rs. 500/- to Rs. 525/- through 100% book-building issue.

As on 02-Aug-2007 5 PM IST, the issue has received bids for 6065470 equity shares against the offer of 21467610 equity shares resulting in a meagre subscription of 0.28 times with just 1 more day to close.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion had received bids for 5628550 shares against the offer of 12880566 share resulting in a subscription of 0.4370 times.

The Non Institutional Investors portion of the issue received subscription of 0.0669 times with bids for 143520 shares against the offer of 2146761 shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 293400 shares against the offer of 6440283 shares resulting in a subscription of 0.0456 times.

Source : Equity Bulls

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