Shipping Corporation of India FPO receives subscription of 0.26 times

The Follow-on Public Offering (FPO) of Shipping Corporation of India Limited which opened for subscription by investors today - November 30, 2010 has received subscription of 0.26 times till 3:00 PM.

The issue has received total bids for 21889850 equity shares against the offer of 84690730 equity shares. The issue has received bids for 360600 equity shares at cut-off price.

The issue closes for subscription on Dec 3 2010. For QIB bidders issue closes on Dec 2, 2010.

The company has come out with public issue of 84,690,730 equity shares of Rs. 10 each for cash at a price band of Rs 135 to Rs 140 through 100% book building process.

Source : Equity Bulls

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