The initial public offering of Indiabulls Power got subscribed nearly six times on the first day of issue today as institutional investors flooded the counter with maximum number of bids.
The issue received bids for 165.67 crore shares against 27.86 crore shares on offer, thereby garnering a demand of 5.95 times the shares on offer, as per data available on the National Stock Exchange.
The share sale has attracted five anchor investors who subscribed to 18 per cent of the issue. The company raised over Rs 316.46 crore from these strategic investors.
The portion reserved for qualified institutional buyers got subscribed 10.86 times, while the non-institutional investors bid for over two times shares reserved for them , NSE data shows. The issue will close on October 15
Monday, October 12, 2009
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