Jagran Prakashan IPO subscribed 14.22 times

Jagran Prakashan Ltd came out with a IPO of 10,039,020 Shares and green shoe of 1,505,853 shares through 100% book building route in a price band of Rs.270 to Rs.324. The issue opened on January 25, 2006 and closed on January 31, 2006.

As per NSE website, the issue has got subscribed for 14.22 times. The QIBs portion has got subscribed for 16.2633 times, Non Institutional investors portion for 23.7415 times and the retail portion has got subscribed for 6.9625 times.

The oversubscription is good considering the stiff pricing of the issue. Many analysts had given an Avoid rating to the issue due to its pricing.

Source : Equity Bulls

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