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Indian Stock Market IPO News – Power Finance Corporation Ltd IPO subscribed 77.24 times

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The Initial Public Offering (IPO) of Power Finance Corporation Ltd which opened on January 31, 2007 and closed on February 6, 2007 received subscription for 77.24 times. The issue has received bids for 9061171760 shares, where as the total issue size is 117316700 shares.

The Qualified Institutional Bidders (QIBs) portion of the issue has got subscription for 137.1681 times, Non-Institutional Investors portion of the issue received subscription for 48.8084 times, Retail Individual Investors portion received 8.5379 times subscription and Employees Quota received subscription for 1.1471 times.

The company came out with an IPO of 11,73,16,700 Equity Shares of Rs.10 each at a price band of Rs.73 to Rs.85.

Enam Financial Consultants Pvt. Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd are the Book Running Lead Managers for the issue. KARVY COMPUTERSHARE PVT LTD is the Registrar to the issue.

The issue comprises of Qualified Institutional Bidders (QIB) portion of 57,408,350 shares, Non-Institutional Investors portion of 17,222,505 shares, Retail Individual Investors portion of 40,185,845 shares and Employee quota of 2,500,000 shares.

The company website URL is : Power Finance Corporation Ltd,
The Prospectus can be read here Power Finance Corporation Ltd Prospectus

Source: Equity Bulls
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