Friday, September 18, 2009

Pipavav IPO Subscribed More Than 8 Times

. Friday, September 18, 2009

By stockOzone team

Pipavav Shipyard public issue has been subscribed 8.24 times the number of shares on offer, a release issued by the company said after the closure of the three-day bidding process on Friday.

Pipavav IPO draws 6 anchor investors. The retail segment was subscribed 2.89 times according to the last report while counting was still on till late evening, the company said.

Qualified institutional buyers (QIBs) quota was subscribed 10.63 times and high networth individuals (HNIs) quota was subscribed 14.80 times.

Pipavav is seeking to raise over Rs 510 crore with the issue of over 85.45 million equity shares of Rs 10 each with a price band of Rs 55-Rs 60 per share.

Disclosure: Author does not own any of the stocks discussed here.

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