SJVN IPO subscribed 0.44 times

The Initial Public Offering (IPO) of SJVN Limited has received subscription of 0.44 times till 1:00 PM as on April 30, 2010.

The IPO has received total bids for 183168750 equity shares against the offer of 415000000. The issue has received bids for 4867750 equity shares at cut-off price.

The bulk of the bids have come at the upper end of price band of Rs 26.

The IPO opened for subscription of on April 29, 2010 and closes for subscription on Monday - May 3, 2010.

The company has come out with IPO of 415,000,000 equity shares of Rs 10 each for cash at a price band of Rs.23 to Rs 26 through 100% book building process.

Rating Agency CARE has assigned IPO Grade 4/5.

Source : Equity Bulls

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