Tecpro Systems IPO garners subscription of 14.17 times

The Initial Public Offering (IPO) of Tecpro Systems Limited opened for subscription on September 23, 2010 has received subscription of 14.17 times. The IPO closes for subscription on Sep 28 2010. For QIB bidders the issue closed on Sep 27, 2010.

The issue received total bids for 88251345 equity shares against the offer of 6227000 equity shares. The issue received bids for 739650 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the IPO received subscription of 27.99 times with bids for 86408415 equity shares against the offer of 3087000 equity shares.

The Non Institutional Investors portion of the issue received bids for 392205 equity shares against the offer of 735000 equity shares resulting in a subscription of 0.53 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 0.65 times with bids for 1439100 equity shares against the offer of 2205000 equity shares.

The Employee Reservation portion has received bids for 11625 shares against the offer of 200000 shares resulting in a subscription of 0.06 times.

Source : Equity Bulls

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