SEA TV Network IPO opens for subscription

The Initial Public Offering (IPO) of SEA TV Network Limited which opened for subscription on September 27, 2010 has received subscription of 1.38 times.

The company has come out with IPO of equity shares of face value of Rs 10 each aggregating to Rs. 5020 Lacs. The 100% book building issue is priced at a price band of Rs 90 to Rs 100.

The Minimum Order Quantity is 65 Equity Shares and in multiples of 65 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs 100000.

Chartered Capital and Investment Limited is the Book Running Lead Manager and Syndicate Member to the IPO.

The Rating Agency ICRA Ltd has assigned IPO Grading of IPO Grade 1.

Link Intime India Private Limited is the registrar to the company.

The issue has received total bids for 7682285 equity shares against the offer of 5577777 equity shares. The IPO received bids for 2724345 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the IPO received subscription of 0.20 times with bids for 550030 equity shares against the offer of 2788888 equity shares.

The Non Institutional Investors portion of the issue received bids for 4397315 equity shares against the offer of 836667 equity shares resulting in a subscription of 5.26 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 1.40 times with bids for 2734940 equity shares against the offer of 1952222 equity shares.

The IPO closes for subscription on September 29, 2010.

Source : Equity Bulls

Keywords