Gammon Infrastructure IPO subscribed 3.48 times

The Initial Public Offering (IPO) of Gammon Infrastructure Projects Ltd which opened for subscription on March 10, 2008 has received 3.48 times subscription till 5:30 PM on 13-March-2008.

The issue has received total bids for 57550325 equity shares against the offer of 16550000 equity shares. The issue has received bids for 4692310 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 5.1680 times with bids for 46186560 shares against the offer of 8937000 shares.

The Non Institutional Investors portion has received bids for 5637135 shares against the offer of 1489500 shares resulting in a subscription of 3.7846 times.

The Retail Individual Investors (RIIs) portion has received subscription of 1.0856 times with bids for 4850965 equity shares against the offer of 4468500 shares.

The Employee Reservation portion has received bids for 875665 shares against the offer of 1655000 shares resulting in a subscription of 0.5291 times.

The IPO closed for subscription today - Thursday, March 13, 2008.

Source : Equity Bulls

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