Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
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Money & Banking
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Public Offer BoB, Andhra Bank IPOs oversubscribed Our Bureau
Mumbai , Jan. 19 THE FOLLOW-ON public issue of Bank of Baroda (BoB) was oversubscribed 3.24 times and that of Andhra Bank's 2.64 times, according to information available on the National Stock Exchange Web site. BoB's issue of 7.1 crore shares received a total of 22.99 crore bids, while the 8.5-crore issue of Andhra Bank received 22.45 crore bids. The Qualified Institutional Buyers (QIB) portion of BoB was subscribed 6.83 times, the retail portion 0.29 times and the non-institutional investors portion 0.5 times. The price band was fixed between Rs 210 and Rs 230, with a minimum bid size of 30 shares. In case of Andhra Bank, the QIB portion was subscribed 5.14 times, the retail portion 0.64 times and the non-institutional investors portion 0.92 times. The bank had fixed the price bank at Rs 82-90, with a minimum bid size of 75 shares.
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