Standard Chartered PLC IDR issue subscribed 2.20 times

The Indian Depository Receipts (IDR) issue of Standard Chartered PLC has received subscription of 2.20 times till 6:00 PM IST as on May 28, 2010. The issue opened for subscription by investors on May 25, 2010 and closed for subscription today - May 28, 2010.

The company came out with 240,000,000 INDIAN DEPOSITORY RECEIPTS (including Anchor investor portion of 36,000,000 IDRs) at a price range of Rs 100 to Rs 115 through 100% Book Building process.

The issue received total bids for 449062600 IDRs against the offer of 204000000 IDRs resulting in a subscription of 2.20 times. The issue has received bids for 14507200 IDRs at cut-off price.

UBS Securities India Private Limited and Goldman Sachs (India) Securities Private Limited were the Global Coordinators and Book Running Lead Managers to the IDR issue.

JM Financial Consultants Private Limited, DSP Merrill Lynch Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.

Standard Chartered STCI Capital Markets Limited is the Co-Book Running Lead Manager to the issue.

JM Financial Services Private Limited, Kotak Securities Limited, SBICAP Securities Limited and ICICI Securities Limited are the Syndicate Members to the issue.

Karvy Computershare Private Limited is the registar to the company.

The market lot is 200 IDRs and the Minimum Order Quantity is 200 IDRs. The Maximum Subscription Amount for Retail Investor was Rs.100000.

Source : Equity Bulls

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