The Hindu Business Line : Housing Development issue subscribed 6.6 times

Mumbai, July 3 The initial public offering of Housing Development and Infrastructure Ltd was oversubscribed 6.60. times on the BSE and NSE at 7.30 pm.

A total of 19.60 crore bids were received against the issue size of 2.97 crore , while 1.31 crore bids were received at the cut-off price.

Bids were received across the price band of Rs 430-Rs 500.

The qualified institutional buyers category was oversubscribed 10.13 times while the retail individual investors portion was subscribed 1.59 times.

BEML

The follow-on issue of Bharat Earth Movers Ltd was subscribed over 30 times, one day before its close.

A total of 15.01crore bids were received against the issue size of 49 lakh shares while 60.72 lakh bids were received at the cut-off price. Bids were received across the price band of Rs 1,020-Rs 1,090.

The QIB portion was subscribed 63.33 times while the retail investor portion was subscribed 3.19 times.

Kotak Mahindra Capital Company Ltd and Enam Financial Consultants Pvt Ltd are the book running lead managers to the HDIL issue while ICICI Securities Primary Dealership Ltd is the book running lead manager to the BEML issue.

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