Pradip Overseas IPO receives subscription of 13.70 times

The Initial Public Offering (IPO) of Pradip Overseas Limited has received good response from investors with subscription of 13.70 times till 5:00 PM on March 15, 2010.

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 on March 15, 2010.

The IPO has received total bids for 145249260 equity shares against the offer of 10600000 equity shares resulting in a subscription of 13.70 times. The issue has received bids for 29742300 equity shares at cut-off price.

Source : Equity Bulls

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