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V-Guard IPO oversubscribed 2.7 times
This article was posted on Feb 22, 2008 and is filed under Press Releases
V-Guard Industries Limited, has received tremendous response for its Initial Public Offer (IPO) of 80,00,000 equity shares of Rs 10 each for cash at a premium, with a price band of Rs.80 – Rs.85 per equity share. The net issue to the public comprises of 76,00,000 equity shares and 4,00,000 equity shares have been reserved for the employees. The issue which opened for subscription on February 18, 2008 has over subscribed by 2.70 times.
The Issue received an overwhelming response from QIBs with oversubscription of 1.74 times; both retail and non-institutional portions were oversubscribed by 4.24 and 2.92 times respectively.
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