V-Guard IPO receives 1.36 times subscription

The Initial Public Offering of V-Guard Industries Limited which opened for subscription on February 18, 2008 has received subscription of 1.36 times till 5:00 PM on 20 Feb 2008.

The company has come out with an IPO of 8000000 Equity Shares of Rs.10 each for cash at a price band of Rs 80 to Rs 85 through 100% book building process.

The IPO has received total bids for 10846240 equity shares against the offer of 8000000 shares. The issue has received bids for 1838160 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 6270400 equity shares against the offer of 3800000 equity shares resulting in a subscription of 1.6501 times.

The Non Institutional Investors portion of the issue has received subscription of 1.7659 times with bids for 2013120 shares against the offer of 1140000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 2265520 equity shares against the offer of 2660000 equity shares resulting in a subscription of 0.8517 times.

The Employee Reservation portion has received bids for 297200 equity shares against the offer of 400000 equity shares resulting in a subscription of 0.7430 times.

The IPO closes for subscription today - February 21, 2008.

Source : Equity Bulls

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