Pradip Overseas IPO subscribed 3.23 times

The Initial Public Offering (IPO) of Pradip Overseas Limited has received subscription of 3.23 times till 2:00 PM on March 15, 2010.

The issue has received total bids for 34198080 equity shares against the offer of 10600000 equity shares. The issue has received bids for 10902240 equity shares at cut-off price.

The company has come out with IPO of 1,06,00,000 equity shares of Rs 10 each for cash at a price band of Rs. 100 to Rs. 110/- through 100% book building process.

The IPO opened for subscription on March 11, 2010 and closes for subscription today - March 15, 2010.

Source : Equity Bulls

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