IRB Infrastructure IPO subscribed 0.88 times

The Initial Public Offering of IRB Infrastructure Developers Limited which opened for subscription on January 31, 2008 has received subscription of 0.88 times till 5:00 PM on 04 Feb 2008.

The company has come out with an IPO of 51057666 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 44945580 equity shares against the offer of 51057666 shares. The issue has received bids for 794310 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 1.3714 times with bids for 41909700 equity shares against the offer of 30559600 equity shares.

The Non Institutional Investors portion has received bids for 2154360 shares against the offer of 5093266 equity shares resulting in a subscription of 0.4230 times.

The Retail Individual Investors (RIIs) portion has received subscription of 0.0571 times with bids for 871860 equity shares against the offer of 15279800 shares. The Employee Reservation has received bids for 9660 shares against the offer of 125000 shares resulting in a subscription of 0.0773 times.

The issue closes for subscription on February 5, 2008.

Source : Equity Bulls

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