Gyscoal Alloys IPO receives subscription of 8.59 times

The Initial Public Offering (IPO) of Gyscoal Alloys Limited which opened for subscription by investors on October 13, 2010 has received subscription of 8.59 times.

The company came out with IPO of 77,00,000 equity shares of face value of Rs 10 each for cash at a price band of Rs 65 to Rs 71 through 100% book building process.

The issue received total bids for 66105450 equity shares against the offer of 7700000 equity shares. The issue received bids for 20820150 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 5911380 equity shares against the offer of 3850000 equity shares resulting in a subscription of 1.54 times.

The Non Institutional Investors portion of the issue has received subscription of 33.44 times with bids for 38623410 equity shares against the offer of 1155000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 21570660 equity shares against the offer of 2695000 equity shares resulting in a subscription of 8 times.

The IPO closed for subscription on October 15, 2010.

Source : Equity Bulls

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