First Winner Industries IPO receives 0.38 times subscription

The Initial Public Offering (IPO) of First Winner Industries Limited which opened for subscription on June 9, 2008 has received subscription of 0.38 times till 5:00 PM on June 11, 2008.

The company has come out with an IPO of 55,00,000 equity shares of Rs 10 each for cash at a price band of Rs 120 to Rs 130 through 100% book-building process.

The issue has received bids for 2105350 equity shares against the offer of 5500000 equity shares. The issue has received bids for 88500 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 1909650 equity shares against the offer of 2700000 equity shares resulting in a subscription of 0.7073 times.

The Non Institutional Investors portion of the issue has received bids for 5000 equity shares against the offer of 810000 equity shares resulting in a subscription of 0.0062 times.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 89500 equity shares against the offer of 1890000 equity shares resulting in a subscription of 0.0474 times.

The Employee Reservation portion of the issue has received subscription of 101200 equity shares against the offer of 100000 equity shares resulting in a subscription of 1.0120 times.

The IPO closes for subscription on June 12, 2008.

Source : Equity Bulls

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