The Initial Public Offering (“IPO”) of Brigade Enterprises Limited (the “Company”), a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, was subscribed 12.87 times (Source: National Stock Exchange website) as of 5 p.m. on December 13, 2007.
According to sources, the Qualified Institutional Bidders portion was subscribed approximately around 17.89 times; the Non-Institutional Bidders portion was subscribed approximately around 4.89 times; the Retail Bidders portion was subscribed approximately around 5 times; and the Employees quota was subscribed 1.39 times as of 5 p.m. on December 13, 2007. The Company received 163,041 applications. According to the NSE website, the Company received Total Bids of 214,008,352 and 23,120,368 at cut-off).
The Company entered the capital market with an IPO of 16,624,720 Equity Shares of Rs 10 each (“Equity Shares”) for cash, at a price to be decided through the 100% book building process (the “Issue”). The Bid/Issue opened for subscription on December 10, 2007 and closed on December 13, 2007. The Price Band has been fixed between Rs 351 and Rs 390 per Equity Share.
Source : moneycontrol.com