Shipping Corporation of India FPO bailed out by QIBs

The Qualified Institutional Buyers (QIBs) have bailed out the Further Public Offering (FPO) of Shipping Corporation of India Limited. The QIBs bid for 176702850 equity shares against the total offer of 84690730 equity shares.

Out of the QIBs portion, Domestic Financial Institutions (Banks/ Financial Institutions(FIs)/ Insurance Companies) were the largest subscribers with bids for 166068100 equity shares. Foreign Institutional Investors (FIIs) followed Domestic Institutions with bids for 8501150 equity shares.

The Mutual Funds have bid for 1990750 equity shares and other have subscribed for 142850 equity shares.

The QIBs have bid for 2.08 times of the overall issue which has received subscription of 2.32 times and QIBs portion has received subscription of 4.19 times.

The FPO closes for subscription by QIBs today - December 2, 2010.

Source : Equity Bulls

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