Shipping Corporation of India FPO garners subscription of 0.44 times

The Further Public Offering (FPO) of The Shipping Corporation of India Limited has received subscription of 0.44 times with total bids for 36956700 equity shares against the offer of 84690730 equity shares.

The FPO which opened for subscription by investors on November 30, 2010 has received bids for 1734750 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 0.77 times with bids for 32275100 equity shares against the offer of 42133638 equity shares. The bids received by QIBs portion has been subscribed by Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies).

The Non Institutional Investors portion of the issue has received bids for 0.04 times with bids for 567600 equity shares against the offer of 12640091 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.14 times with bids for 4112550 equity shares against the offer of 29493547 equity shares.

The Employee Reservation portion has received bids for just 1450 equity shares against the offer of 423454 equity shares.

Source : Equity Bulls

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