Religare Enterprises Limited IPO receives 160.56 times subscription

The Initial Public Offering (IPO) of Religare Enterprises Limited has received overwhelming response from investors with a subscription of 160.56 times. The IPO which opened for subscription by investors on October 29, 2007 closed on Thursday - November 1, 2007.

The IPO received total bids for 1216455730 equity shares against the offer of 7576102 shares. The Issue also received bids for 201804680 equity shares at cut-off price.

The company came out with an IPO of 7576102 Equity Shares of Rs 10 each for cash at a price band of Rs 160 to Rs 185.

Out of the issue, Qualified Institutional Buyers (QIBs) portion received bids for 840717150 equity shares against the offer of 4545662 shares resulting in a subscription of 184.9493 times.

The Non Institutional Investors portion received subscription of 215.4472 times with bids for 163224740 shares against the offer of 757609 shares.

The Retail Individual Investors (RIIs) portion of the issue recieved bids for 212513840 shares against the offer of 2272831 shares resulting in a subscription of 93.5018 times.

Source : Equity Bulls

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