Tarapur Transformers IPO subscription at 1.74 times

The Initial Public Offering (IPO) of Tarapur Transformers Limited closed for subscription today - April 28, 2010. The issue received subscription of 1.74 times.

The company had come out with IPO of 85,00,000 equity shares of Rs 10 each for cash at a price band of Rs. 65 To Rs. 75 through 100% book building process. The IPO opened for subscription on April 26, 2010.

The issue has received total bids for 14750820 equity shares against the offer of 8500000 equity shares. The IPO has received bids for 7839900 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.0314 times with bids for 133290 equity shares against the offer of 4250000 equity shares.

The Non Institutional Investors portion of the issue has received bids for 6470910 equity shares against the offer of 1275000 equity shares resulting in a subscription of 5.0752 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 2.7384 times with bids for 8146620 equity shares against the offer of 2975000 equity shares.

Source : Equity Bulls

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