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IGL issue over-subscribed 11 times
New Delhi, Dec 05: The initial public offer of Indraprastha Gas Ltd, the sole supplier of compressed natural gas (CNG) in the national capital, has been over-subscribed by 11 times.
New Delhi, Dec 05: The initial public offer of
Indraprastha Gas Ltd, the sole supplier of compressed natural
gas (CNG) in the national capital, has been over-subscribed by
11 times.
IGL issue, which closed today, received bids for over
43.95 crore shares against the offer of 4 crore equity shares,
according to the Bombay Stock Exchange website.
The maximum number of 36.2 crore bids were received on the ceiling price of the Rs 40 to 48 price band fixed for the IPO being carried out through the book-building route.
In all, 369,207,000 shares have been sought at Rs 48 while at Rs 40, 1,759,200 shares have been bid for. 537,900 equity shares were requested at Rs 47 while the least number of 93,800 shares had been sought at Rs 41.
Interestingly, 63,549,400 shares have been bid for by investors at the 'best price'. Here the investors have not quoted any specific price but are willing to buy the shares of the company at whatever price it fixes subsequent to the close of the book building process.
At Rs 42, requests for 361,700 shares were received, 137,200 shares were sought at Rs 43; 1,056,500 shares at Rs 44; 1,742,400 shares at Rs 45 and 1,093,900 shares were requested at Rs 46.
The IPO, where financial institutions are offloading 28.6 per cent of their equity shares, opened on November 28 and does not have any green-shoe option, that is to say the equity offloaders do not wish to retain any over-subscription.
Bureau Report
The maximum number of 36.2 crore bids were received on the ceiling price of the Rs 40 to 48 price band fixed for the IPO being carried out through the book-building route.
In all, 369,207,000 shares have been sought at Rs 48 while at Rs 40, 1,759,200 shares have been bid for. 537,900 equity shares were requested at Rs 47 while the least number of 93,800 shares had been sought at Rs 41.
Interestingly, 63,549,400 shares have been bid for by investors at the 'best price'. Here the investors have not quoted any specific price but are willing to buy the shares of the company at whatever price it fixes subsequent to the close of the book building process.
At Rs 42, requests for 361,700 shares were received, 137,200 shares were sought at Rs 43; 1,056,500 shares at Rs 44; 1,742,400 shares at Rs 45 and 1,093,900 shares were requested at Rs 46.
The IPO, where financial institutions are offloading 28.6 per cent of their equity shares, opened on November 28 and does not have any green-shoe option, that is to say the equity offloaders do not wish to retain any over-subscription.
Bureau Report