Tubeknit Fashions Ltd IPO to close today

The Initial Public Offering of Tubeknit Fashions Ltd will close today for subscription. The company which has come out with an IPO of 42,75,000 Equity Shares through 100% book building process failed to evoke interest from investors.

The issue failed to receive subscription on its earlier closing date of February 27, 2007. The company extended the closing date of the issue to March 02, 2007 and also reduced the price band from Rs.100/- to Rs.120/- per share to Rs.90/- to Rs.108/- per share.

As on, 01-Mar-2007 17:00:00 IST the issue had received bids for just 285300 equity shares against the offer of 4275000 equity shares resulting in a subscription of 0.07 times.

Source : Equity Bulls

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