NHPC IPO receives thumbs up from Retail Investors

The Initial Public offering of NHPC Limited which opened today has received overwhelming response from Qualified Institutional Buyers (QIBs), Non Institutional Investors and Retail Individual Investors. The Qualified Institutional Buyers (QIBs) portion has received subscription of 9.4851 times followed by Non Institutional Investors portion with 2.4331 times subscription and Retail Individual Investors (RIIs) portion securing subscription of 1.2507 times. The Employee Reservation portion has secured subscription of only 0.2229 times.

The overall issue has garnered subscription of 6.16 times. The IPO has received bids for 10328242575 equity shares against the offer of 1677374015 equity shares. The IPO has received susbcription for 572394725 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 Retail Individual Investors (RIIs) portion of the issue has received subscription of 1.2507 times with bids for 613618600 equity shares against the offer of 490631900 equity shares.

The issue closes for subscription tomorrow (Wednesday - August 12, 2009).

Source : Equity Bulls

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