Prestige Estates Projects IPO garners subscription of 2.26 times

The Initial Public Offering (IPO) of Prestige Estates Projects Limited which opened for subscription by investors on October 12, 2010 has received subscription of 2.26 times.

The company came out with IPO of equity shares of Rs. 10/- each Aggregating upto Rs 12000 million.[including anchor portion of 11773770 equity shares]

The issue has received total bids for 129502230 equity shares against the offer of 57240698 equity shares. The issue has received bids for 1293120 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 126181530 equity shares against the offer of 29229071 equity shares resulting in a subscription of 4.32 times.

The Non Institutional Investors portion of the issue has received subscription of 0.24 times with bids for 1643550 equity shares against the offer of 6959303 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 1634940 equity shares against the offer of 20877906 equity shares resulting in a subscription of 1.04 times.

The Employee Reservation portion of the issue has received subscription of 0.24 times with bids for 42210 shares against the offer of 174418 shares.

The IPO closed for subscription on October 14, 2010.

Source : Equity Bulls

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