Shipping Corporation of India FPO garners subscription of 4.92 times

The Further Public Offering (FPO) of Shipping Corporation of India Limited has received subscription of 4.92 times till 7:30 PM today (December 3, 2010).

The FPO has received total bids for 416459250 equity shares against the offer of 84690730 equity shares. The issue received bids for 160949350 equity shares at cut-off price.

The Retail Individual Investors portion of the issue has received nearly 6 times subscription. The IPOs / FPO which have come after the enhancement of retail limit to Rs.2 lakhs have received good response in the retail category. The change in interest is due to HNIs (High Networth Individuals) applying under retail category as the retail portion has 35% of the issue as compared to 15% of Non Institutional Investors portion.

The issue closed for subscription by QIBs on December 2, 2010 and closes today (December 3, 2010) for subscription by other investors.

Source : Equity Bulls

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