Man Infraconstruction IPO subscribed 62.53 times

The Initial Public Offering (IPO) of Man Infraconstruction Limited has received overwhelming response from investors with the issue receiving subscription of 62.53 times. The IPO opened for subscription on February 18, 2010 and closed for subscription on Tuesday - February 22, 2010.

The company came out with IPO of 56,25,150 equity shares ( including 9,72,000 shares for anchor investors ) of Rs 10 each for cash at a price band of Rs.243 to Rs.252 through 100% book building process.

The IPO received total bids for 290960252 equity shares against the offer of 4653150 equity shares. The issue received bids for 15339632 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 96.0617 times with bids for 217867826 equity shares against the offer of 2268000 equity shares.

The Non Institutional Investors portion of the issue received bids for 56467862 equity shares against the offer of 540000 equity shares resulting in a subscription of 10.2613 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 10.2613 times with bids for 16623332 equity shares against the offer of 1620000 equity shares.

The Employee Reservation portion received bids for 1232 equity shares against the offer of 225150 equity shares resulting in a subscription of 0.0055 times.

Source : Equity Bulls

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