SVEC Constructions IPO receives subscription of 0.01 times

The Initial Public Offering of SVEC CONSTRUCTIONS LIMITED which opened for subscription on February 4, 2008 has received subscription of just 0.01 times till 5:30 PM on 05 Feb 2008.

The company has come out with an IPO of 4000000 Equity Shares of Rs.10 each for cash at a price band of Rs 85 to Rs 95 through 100% book building process.

The IPO has received total bids for 10570 equity shares against the offer of 4000000 shares. The issue has received bids for 9380 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received Nil subscription against the offer of 2000000 equity shares.

The Non Institutional Investors portion has received subscription of 0.0083 times with bids for 4970 equity shares against the offer of 600000 shares.

The Retail Individual Investors (RIIs) portion has received subscription of 0.0214 times with bids for 29960 equity shares against the offer of 1400000 shares.

The issue closes for subscription on February 8, 2008.

Source : Equity Bulls

Keywords