Bang Overseas IPO subscribed 1.24 times

The Initial Public Offering (IPO) of Bang Overseas Limited which opened for subscription on January 28, 2008 has received 1.24 times subscription.

The company came out with an IPO of 3500000 Equity Shares of Rs 10 each for cash at a price band of Rs 200 to Rs 207 through 100% book building process.

The IPO has received total bids for 4355970 equity shares against the offer of 3500000 shares. The issue has received bids for 1317060 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 1939980 equity shares against the offer of 1700000 equity shares resulting in a subscription of 1.1412 times.

The Non Institutional Investors portion has received subscritpion of 1.8055 times with bids for 920790 equity shares against the offer of 510000 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 1.1712 times with bids for 1393740 shares against the offer of 1190000 shares.

The Employee Reservation portion has received bids for 101460 equity shares against the offer of 100000 shares resulting in a subscription of 1.0146 times.

The IPO closed for subscription on January 31, 2008.

Source : Equity Bulls

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