RPP Infra Projects IPO : Finally subscribed 2.97 times

by khalid on 22/11/2010 · 1 comment

The IPO of RPP Infra Projects Limited has received a minimal response from the investors with the final over-subscription figure reached to just 2.97 times on an overall basis. RPP Infra Projects Limited IPO was open on 18th Nov 2010 and get closed on 22nd Nov 2010 for subscription. The IPO has managed to get some what better response from Non Institutional Investors Category where it overbid by 7.27 times on the final day of subscription. The price band for the issue was Rs 68 at lower level and Rs 75 at upper level. RPP Infra Projects Limited is in the business of infrastructure development such as Highways, Roads and Bridges. Company is also involve in civil work like SEZ Development, Water Management projects, Irrigation and Power Projects.

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

Qualified Institutional Buyers (QIBs) : 0.16 times
Non Institutional Investors : 7.27 times
Retail Individual Investors : 5.60 times
Employee Reservations : 0.43 times
Overall : 2.97 times

The IPO proceeds would be used to to fund the capital expenditure, provide for working capital margins, to fund an SPV for proposed BOT projects and for 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).

The sole book running lead manager to the issue is VC Corporate Advisors Pvt Limited.

Registrar of the Issue : Cameo Corporate Services Limited Chennai.

Stay tuned to BelltheBull Blog for more on RPP Infra Projects IPO !

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