Readymade Steel India IPO (Initial Public Offering) : Finally subscribed 1.68 times

by khalid on 01/07/2011 · 0 comments

The IPO of Readymade Steel India Limited has received a very little response from the investors with the final day subscription figure reached to just 1.68 times on an overall basis. Readymade Steel India IPO (Initial Public Offering) opens on 27th Jun 2011 and will get closed on 29th Jun 2011 for subscription. The IPO has managed to get a little bit better response from Retail Individual Investors Category where it overbid by 4.18 times on the final day of subscription. The price band for the issue is Rs 90 at lower level and Rs 108 at upper level. Readymade Steel India Limited is in the business of steel service provider to the infrastructure sector. The company provide customised, prefabricated steel for various infrastructure projects

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

Qualified Institutional Buyers (QIBs) : 0.03 times
Non Institutional Investors : 1.37 times
Retail Individual Investors : 4.18 times
Overall : 1.68 times

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

The Sole Book running lead manager (BRLM) to the issue is Arihant Capital Markets Limited.

Registrar of the Issue : Bigshare Services Pvt Limited, Mumbai

Stay tuned to BelltheBull Blog for more on Readymade Steel India IPO !

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