Servalakshmi Paper IPO : Subscribed 0.57 times on Day 1

by khalid on 27/04/2011 · 0 comments

The IPO of Servalakshmi Paper Limited has received a very little response from the investors with the 1st day subscription figure reached to just 0.57 times on an overall basis. Servalakshmi Paper IPO is open on 27th Apr 2011 and will get closed on 29th Apr 2011 for subscription. The IPO has managed to get a good response from Non Institutional Investors Category where it overbid by 3.20 times on the 1st day of subscription. The price band for the issue is Rs 27 at lower level and Rs 29 at upper level. Servalakshmi Paper Limited is engaged in the business of manufacturing printing and writing paper and newsprint.

The category-wise subscription status of IPO on closing of 1st day is given below:-

Qualified Institutional Buyers (QIBs) : 0.00 times
Non Institutional Investors : 3.20 times
Retail Individual Investors : 0.26 times
Overall : 0.57 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 managers to the issue is Keynote Corporate Services and Indian Overseas Bank.

Registrar of the Issue : Link Intime (India).

Stay tuned to BelltheBull Blog for more on Servalakshmi Paper IPO !

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