Microsec Financial Services IPO subscribed fully

The Initial Public Offering (IPO) of Microsec Financial Services Limited received full subscription on the first day. The company has come out with IPO of 12500000 equity shares of Rs 10 each for cash at a price band of Rs 113 to Rs 118 through 100% book building process.

The Minimum Order Quantity is 52 Equity Shares and in multiples of 52 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs 100000.

The IPO received subscription of 1.16 times till 3:00 PM on September 17, 2010. The IPO received bids for 14536028 equity shares against the offer of 12500000 equity shares. The issue received bids for 601328 equity shares at cut-off price.

The rating agency CRISIL has assigned IPO Grading of IPO Grade 2.

SBI CAPITAL MARKETS LIMITED is the Book Running Lead Manager to the IPO. SBICAP Securities Limited, Enam Securities Private Limited, JM Financial Services Private Limited and Reliance Securities Limited are the Syndicate Members to the IPO.

Link Intime India Private Limited is the registrar to the company. The IPO closes for subscription on September 21, 2010.

Source : Equity Bulls

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