DEN NETWORKS IPO scrapes through with subscription of 1.04 times

The Initial Public Offering (IPO) of DEN NETWORKS Ltd which opened for subscription on October 28, 2009 has received subscription of 1.04 times with bids for 18345120 equity shares against the offer of 17604980 equity shares. The issue has received subscription for 534870 equity shares at cut-off price.

The company has come out with an IPO of 20000000 equity shares [including Anchor investor portion of 23,95,020 equity shares] of Rs 10 each for cash at a price band of Rs. 195 To Rs. 205 through 100% Book Building process.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 9458700 equity shares against the offer of 9454980 equity shares resulting in a subscription of 1.0004 times.

The Non Institutional Investors portion of the issue has received subscription of 4.1244 times with bids for 8145690 equity shares against the offer of 1975000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 570510 equity shares against the offer of 5925000 equity shares resulting in a subscription of 0.0963 times.

The Employee Reservation portion has received subscription of 0.6809 times with bids for 170220 equity shares against the offer of 250000 equity shares.

Source : Equity Bulls

Keywords