Persistent Systems IPO subscribed 3.63 times

The Initial Public Offering (IPO) of Persistent Systems Limites has received subscription of 3.63 times till 3:00 PM on March 18, 2010. The IPO opened for subscription by investors on March 17, 2010.

The company has come out with IPO of 5,419,706 shares of Rs 10 each for cash at a price band of Rs.290 to Rs. 310 through 100% book-building process.

The IPO has received total bids for 19689800 equity shares against the offer of 5419706 equity shares. The issue has received bids for 685580 equity shares at cut-off price.

The IPO closes for subscription on Friday - March 19, 2010.

Source : Equity Bulls

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