Texmo Pipes & Products IPO subscribed 7.48 times

The Initial Public Offering (IPO) of Texmo Pipes & Products Limited received subscription of 7.48 times till 5:00 PM on February 19, 2010. The IPO opened for subscription on February 16, 2010.

The company came out with IPO of 50,00,000 equity shares of Rs 10 each for cash at a price band of Rs.85 to Rs.90 through 100% book building process.

The IPO received bids for 37402425 equity shares against the offer of 5000000 equity shares. The issue received bids for 12215325 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 1.0204 times with bids for 2499900 equity shares against the offer of 2450000 equity shares.

The Non Institutional Investors portion received bids for 22414725 equity shares against the offer of 735000 equity shares resulting in a subscription of 30.4962 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 7.2632 times with bids for 12456375 equity shares against the offer of 1715000 equity shares.

The Employee Reservation portion received bids for 31425 equity shares against the offer of 100000 equity shares resulting in a subscription of 0.3143 times.

The IPO closed for subscription on Friday - February 19, 2010.

CARE had given IPO grading of IPO Grade 2 for the issue.

Source : Equity Bulls

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