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LT Overseas IPO subscribed 1.5 times; Sobha 23 times
Real estate firm Sobha Developers' initial public offer is receiving a robust response from investors with the issue getting subscribed by more than 23 times, while basmati rice manufacturer L T Overseas' IPO was subscribed by about 1.5 times.
LT Overseas, which offers shares in a price band of Rs 50-56, received 1.04 crore bids for its offer of 70.35 lakh equity shares of Rs 10 each, according to information available on the Stock Exchanges.
The issue received a good response from qualified institutional buyers, with their portion getting subscribed by nearly three times, though FII have not bid for the issue as yet. The response was from domestic financial institutions.
Bangalore-based Sobha Developers' public offer got subscribed by over 23 times on its second last day of closing, receiving 20.90 crore bids for its total issue size of 88.93 lakh equity shares of Rs 10 each through book building process in the price band of Rs 550-640 per share.
The portion reserved for the Qualified Institutional buyers has been subscribed by over 42 times with foreign institutional investors bidding for 20 crore shares.
The IPO of Ruchira Papers has been over subscribed 1.36 times and received 1.52 crore bids for its issue comprising of 1.11 crore shares. The portion reserved for retail investors was oversubscribed 2.15 times, while non-institutional investors bid for 1.33 times of the shares reserved for them.The IPOs of Sobha Developers and Ruchira Papers close tomorrow while LT overseas offer would end on November 30.
Fictitious public issue applicants may get jail term
The government may make multiple applications for public offers punishable under the Companies Act and fictitious applications may be punishable with 5 years imprisonment, reports Our Bureau in New Delhi.
The standing committee on finance has recommended these measures in its report on the IPO scam. The panel has taken a bleak view on the way the different regulatory bodies have handled the scam. It has also endorsed a Sebi proposal to revamp the management of the two depositories , NSDL and CDSL.
To Read MoreClick Here
Real estate firm Sobha Developers' initial public offer is receiving a robust response from investors with the issue getting subscribed by more than 23 times, while basmati rice manufacturer L T Overseas' IPO was subscribed by about 1.5 times.
LT Overseas, which offers shares in a price band of Rs 50-56, received 1.04 crore bids for its offer of 70.35 lakh equity shares of Rs 10 each, according to information available on the Stock Exchanges.
The issue received a good response from qualified institutional buyers, with their portion getting subscribed by nearly three times, though FII have not bid for the issue as yet. The response was from domestic financial institutions.
Bangalore-based Sobha Developers' public offer got subscribed by over 23 times on its second last day of closing, receiving 20.90 crore bids for its total issue size of 88.93 lakh equity shares of Rs 10 each through book building process in the price band of Rs 550-640 per share.
The portion reserved for the Qualified Institutional buyers has been subscribed by over 42 times with foreign institutional investors bidding for 20 crore shares.
The IPO of Ruchira Papers has been over subscribed 1.36 times and received 1.52 crore bids for its issue comprising of 1.11 crore shares. The portion reserved for retail investors was oversubscribed 2.15 times, while non-institutional investors bid for 1.33 times of the shares reserved for them.The IPOs of Sobha Developers and Ruchira Papers close tomorrow while LT overseas offer would end on November 30.
Fictitious public issue applicants may get jail term
The government may make multiple applications for public offers punishable under the Companies Act and fictitious applications may be punishable with 5 years imprisonment, reports Our Bureau in New Delhi.
The standing committee on finance has recommended these measures in its report on the IPO scam. The panel has taken a bleak view on the way the different regulatory bodies have handled the scam. It has also endorsed a Sebi proposal to revamp the management of the two depositories , NSDL and CDSL.
To Read MoreClick Here
posted by SY at 12:39 PM
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