Shipping Corporation of India FPO garners subscription of 1.88 times

The Futher Public Offering (FPO) of Shipping Corporation of India Limited has received subscription of 1.88 times till 3:00 PM today (December 2, 2010). The issue has received lukewarm response from all specturm of investors as compared to the other PSU IPO MOIL Limited. The FPO which opened for subscription on November 30, 2010 closes for subscription by QIBs today - December 2, 2010.

The FPO has received subscription of 1.8 times till 3:00 PM on December 2, 2010. The issue has received total bids for 159450550 equity shares against the offer of 84690730 equity shares. The issue has received bids for 4860950 equity shares at cut-off price.

The Shipping Corporation of India Limited stock was trading at Rs.146.15, up by Rs.1.75 or 1.21%. The stock hit an intraday high of Rs.149.40 and low of Rs.144.50. The total traded quanity was 4.01 lakhs as compared to 1.11 lakhs.

The FPO closes for subscription by other investors on Friday - December 3, 2010. The retail individual investors and employees are offered a discount of 5% from the final issue price.

Source : Equity Bulls

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