Financial Daily from THE HINDU group of publications
Thursday, Mar 31, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 31, 2005 |
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Markets
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IPOs Info-Tech - IPOs 3i Infotech, Gokaldas IPOs oversubscribed Our Bureau
Mumbai , March 30 THE IPO of 3i Infotech was subscribed 1.04 times on the first day of the bidding process on Wednesday. Over 2.07 crore shares were bid for against the company's offer of two crore shares. The issue also allows a green shoe option of 30 lakh shares. About 99.2 per cent of the bids were at Rs 100. The price band of the issue Rs 90-100 per share. FIIs contributed 91.90 per cent of the total bids while financial institutions contributed 8.04 per cent. Participation from individual investors has been rather lukewarm, with bids coming in only for 0.06 per cent. The issue remains open till April 4. JM Morgan Stanley and DSP Merrill Lynch are the book running lead managers to the issue; ICICI Securities Ltd is the co-book running lead manager. Meanwhile, the IPO of Gokaldas Exports Ltd was subscribed over 10 times on Wednesday, with the company receiving bids for 338.22 lakh shares against its IPO size of 31.25 lakh shares.
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