VA Tech Wabag IPO open for subscription

The Initial Public Offering (IPO) of VA Tech Wabag Limited has received subscription of 0.53 times. The issue has received total bids for 1657520 equity shares against the offer of 3128507 equity shares. The issue received bids for 82155 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the IPO received subscription of 1.15 times with bids for 1489600 equity shares against the offer of 1293684 equity shares.

The Non Institutional Investors portion of the issue received bids for 22135 equity shares against the offer of 550447 equity shares resulting in a subscription of 0.04 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 0.11 times with bids for 145785 equity shares against the offer of 1284376 equity shares.

The company has come out with IPO of Equity shares of Rs. 5 each consisting of a fresh issue of aggregating to Rs. 12,500 lakhs and an offer for sale of 26, 53,383 equity shares.

The 100% book building issue has come at a price band of Rs. 1230/- to Rs. 1310/- The Minimum Order Quantity is 5 Equity Shares and in multiples of 5 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

Enam Securities Pvt. Ltd and IDFC Capital Limited are the Book Running Lead Managers to the IPO. Sharekhan Limited is the Syndicate Member.

The Rating Agency ICRA has given IPO Grading of IPO Grade 4.

Karvy Computershare Private Limited is the registrar to the company.

The IPO opened for subscription on September 22, 2010 and closes for subscription on September 27, 2010. The IPO closes for subscription on September 24, 2010 for QIB bidders.

Source : Equity Bulls

Keywords