SVEC Constructions IPO subscribed 0.15 times

The Initial Public Offering of SVEC CONSTRUCTIONS LIMITED has received worst response from investors in the current IPOs which are open for subscription. The company IPO which opened for subscription on February 04, 2008 has received subscription of 0.15 times till 5:00 PM on 07 February 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 603960 equity shares against the offer of 4000000 shares. The issue has received bids for 303730 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 bids for 270760 equity shares against the offer of 600000 shares resulting in a subscription of 0.4513 times.

The Retail Individual Investors (RIIs) portion has received subscription of 0.2380 times with bids for 333200 equity shares against the offer of 1400000 shares.

The issue closes for subscription on February 8, 2008.

Source : Equity Bulls

Keywords