The Hindu Business Line : UTV Software IPO subscribed 3.4 times

THE initial public offering of UTV Software Communications Ltd was oversubscribed by 3.4 times on the first day of the issue. Most of the bids were at Rs 130 per share, the upper end of the price band.

A total of 2.38 crore share bids were made today against the issue size of 69.99 lakh shares. The price band was in the range of Rs 115-130.

FIIs bid were for 1.44 crore shares accounting for 60.66 per cent of the issue size. Financial institutions bid were for 48.46 lakh shares and MFs 38.98 crore shares. The issue closes on February 25.

Of the total offer, there would be 50 per cent allocation for institutional investors, up to 25 per cent to high networth individuals and up to 25 per cent to retail investors, which would constitute 34.11 per cent of the fully diluted post issue paid-up capital of the company.

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UTV Software IPO subscribed 3.4 times