IRB Infrastructure IPO subscribed 0.44 times

The Initial Public Offering (IPO) of IRB Infrastructure Developers Limited which opened for subscription by investors on January 31, 2008 has received subscription of 0.44 times.

The company has come out with an IPO of 51,057,666 Equity Shares of Rs 10 each for cash at a price band of Rs. 185 /- to Rs. 220 /- through 100% book building process.

The IPO has received total bids for 22445910 equity shares against the offer of 51057666 shares. The issue has received bids for 46950 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 22392060 equity shares against the offer of 3000000 equity shares resulting in a subscription of 0.7327 times.

The Non Institutional Investors portion has received subscritpion of 0.0002 times with bids for 960 equity shares against the offer of 5093266 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 0.0035 times with bids for 52890 shares against the offer of 15279800 shares.

The Employee Reservation portion has received bids for no equity shares against the offer of 125000 shares resulting in Nil subscription.

The IPO closes for subscription on February 05, 2008.

Source : Equity Bulls

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