CEBBCO IPO : Finally subscribed 2.07 times

by khalid on 07/10/2010 · 0 comments

Kanpur based Commercial Engineers & Body Builders (CEBBCO) is designer and manufacturer company of vehicle bodies, refurbishment of wagons, components for wagons and auto components. The company has clients like Tata Motors Limited, Ministry of Defence, Reliance PetroleumLoading…, Reliance IndustriesLoading…, Ashok Leyland, VE Commercial Vehicles (a JV between Volvo group of Companies and Eicher Motors) amongst others. The IPO of Commercial Engineers & Body Builders Limited (CEBBCO) has received a so so response from the investors with the final over-subscription figure reached to just 2.07 times on an overall basis. CEBBCO IPO was open on 30th Sep 2010 and get closed on 5th October 2010 for subscription.The IPO has managed to get a respectively good response from Qualified Institutional Buyers Category where it overbid by 3.68 times on the final day of subscription.

The category-wise subscription status of IPO on closing day is given below:-

Qualified Institutional Buyers (QIBs) : 3.68 times
Non Institutional Investors : 0.34 times
Retail Individual Investors : 0.38 times
Overall : 2.07 times

The proceeds of this IPO will be used for capital expenditure for setting up a wagon manufacturing facility in Jabalpur, prepayment of identified loan facilities and general corporate purposes.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Book running lead managers to the issue are ICICI Securities Ltd and Edelweiss Capital Ltd.

Registrar of the Issue : Karvy Computershare Pvt Ltd. Hyderabad.

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