Muthoot Finance IPO garners subscription of 0.35 times

The Initial Public Offering (IPO) of Muthoot Finance Limited which opened for subscription by investors on April 18, 2011, has received subscription of 0.35 times till 5:00 PM on April 19, 2011.

The issue has received total bids for 15248560 equity shares against the offer of 43775000 equity shares. The issue has received bids for 5094040 equity shares at cut-off price.

The company has come out with IPO of 51,500,000 Equity Shares of Rs. 10/- each (including Anchor Portion of 7,725,000 equity shares) for cash at a price band of Rs.160 to Rs.175 through 100% book building process.

The Rating agencies CRISIL and ICRA have assinged IPO Grading of IPO GRADE 4.

The IPO closes for subscription by investors on Apr 21, 2011. For QIB bidders Issue closes on Apr 20, 2011.

Source : Equity Bulls

Keywords