NHPC IPO subscription at 3.54 times

The Initial Public offering of NHPC Limited which opened today has received overwhelming response from Qualified Institutional Buyers (QIBs) with the issue garnering subscription of 3.54 times. The IPO has received bids for 5940924150 equity shares against the offer of 1677374015 equity shares resulting in a subscription of 3.54 times. The IPO has received susbcription for 42954275 equity shares at cut-off price.

The company has come out with an IPO of 1677374015 equity shares of Rs 10 each for cash at a price band of Rs 30 to Rs 36 through 100% book building process.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 6.0057 times with bids for 5893180125 equity shares against the offer of 981263799 equity shares.

The Non Institutional Investors portion of the issue has received bids for 1021825 equity shares against the offer of 163543966 equity shares resulting in a subscription of 0.0062 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.0952 times with bids for 46713450 equity shares against the offer of 490631900 equity shares.

The Employee Reservation portion of the issue has received bids for 8750 equity shares against the offer of 41934350 equity shares resulting in a subscription of 0.0002 times.

The issue closes for subscription on Wednesday - August 12, 2009.

Source : Equity Bulls

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