Shriram EPC IPO subscribed 2.15 times

The Initial Public Offering (IPO) of Shriram EPC Limited opened for subscription by investors today - January 29, 2008 has received good response with the issue receiving subscription of 2.15 times.

The company has come out with an IPO of 5000000 Equity Shares of Rs 10 each for cash at a price band of Rs 290 /- to Rs 330 /- through 100% book building process.

The IPO has received total bids for 10725400 equity shares against the offer of 5000000 shares. The issue has received bids for 5400 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 10716900 equity shares against the offer of 3000000 equity shares resulting in a subscription of 3.5723 times.

The Non Institutional Investors portion has received subscritpion of 0.0040 times with bids for 2000 equity shares against the offer of 500000 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 0.0043 times with bids for 6500 shares against the offer of 1500000 shares.

The IPO closes for subscription on February 01, 2008.

Source : Equity Bulls

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