NHPC IPO receives subscription of 23.44 times

The Initial Public offering of NHPC Limited which opened on August 7, 2009 has received overwhelming response from Qualified Institutional Buyers (QIBs) with the issue garnering subscription of 23.44 times. The IPO has received bids for 39325706350 equity shares against the offer of 1677374015 equity shares resulting in a subscription of 23.44 times. The IPO has received susbcription for 1331171975 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.

In BSE, the issue has received subscription of 1045.52% with bids for 17537290225 equity shares against the offer of 1677374015 equity shares.

In NSE, the issue has received subscription of 13.07 times with bids for 21925360975 equity shares against the offer of 1677374015 equity shares. The issue has received subscription for 956969825 equity shares at cut-off price.

The IPO which opened for subscription on August 7, 2009 closes for subscription today (Wednesday - August 12, 2009).

Source : Equity Bulls

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