Financial Daily from THE HINDU group of publications
Thursday, Jun 23, 2005
Financial Daily from THE HINDU group of publications Thursday, Jun 23, 2005 |
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Markets
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IPOs Nectar Lifesciences IPO subscribed 6 times Our Bureau
New Delhi , June 22 THE initial public offering of the Chandigarh-based pharma company Nectar Lifesciences Ltd to raise Rs 90 crore was subscribed 6.04 times on the opening day. According to information available, foreign institutional investors subscribed to a total of 1.80 crore shares comprising 77.23 per cent of the total subscription, while mutual funds bid for 53.21 lakh shares (constituting 22.76 per cent of the total subscription). The company is issuing 38.7 lakh equity shares of Rs 10 each at a price band of Rs 220-240. The issue, which opened today, will close on June 28.
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