Infinite Computer Solutions India IPO subscribed 42.77 times

The Initial Public Offering (IPO) of Infinite Computer Solutions India Ltd has received subscription of 42.77 times till 5:00 PM on January 13, 2010.

The company has come out with IPO of 11503000 equity shares [including Anchor investor portion of 1725450 equity shares] of Rs 10 each for cash at a price band of Rs. 155 To Rs.165 through 100% book building process.

The IPO has received bids for 418139040 equity shares against the offer of 9777550 equity shares resulting in a subscription of 42.77 times. The issue has received bids for 35575160 equity shares at cut-off price.

The rating agency CRISIL had given IPO grading IPO GRADE 2/5.

The IPO closes for subscription today - January 13, 2010.

Source : Equity Bulls

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