Sudar Garments IPO : Subscribed 0.52 times on Day 1

by khalid on 21/02/2011 · 0 comments

The IPO of Sudar Garments Limited has received a little response from the investors with the 1st day over-subscription figure reached to just 0.52 times on an overall basis. Sudar Garments IPO is open on 21st Feb 2011 and will get closed on 24th Feb 2011 for subscription. The IPO has managed to get some what better response from Non Institutional Investors Category where it overbid by 2.97 times on the 1st day of subscription. The price band for the issue is Rs 72 at lower level and Rs 77 at upper level. Sudar Garments Limited is a leading manufacturer and exporter for readymade garments specialized in elegant Shirts, Trousers and wide range of apparel for Men, Women & Kids. The company is presently manufacture under its own brand name “Glory to Glory” and will be launching shortly two more brands namely ‘St. Paul’ and ‘Majesty’.

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

Qualified Institutional Buyers (QIBs) : 0.00 times
Non Institutional Investors : 2.97 times
Retail Individual Investors : 0.22 times
Overall : 0.52 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 offer is Ashika Capital Limited.

Registrar of the Issue : Link Intime India Private Ltd, Mumbai.

Stay tuned to BelltheBull Blog for more news on Sudar Garments IPO !

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