EROS International Media IPO garners subscription of 26.51 times

The Initial Public Offering (IPO) of EROS International Media Limited has received excellent response with subscription of 26.51 times. The IPO opened for subscription on September 17, 2010 and closed for subscription on September 21, 2010.

The issue received total bids for 491873440 equity shares against the offer of 18551898 equity shares. The IPO received bids for 70469720 equity shares at cut-off price.

The company came with IPO for 18551898 shares aggregating to Rs.3,500 million (including anchor portion of 3600000 shares) through 100% book building process at a price band of Rs. 158/- TO Rs. 175/-.

The Rating Agency CARE gave IPO Grading of IPO Grade 4 for the company's issue.

Source : Equity Bulls

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