The biggest initial public offer in over 2 years, made by telecom tower company Bharti Infratel, has received total subscriptions of over Rs. 4,365 crore or 1.3 times the issue size.
The IPO, biggest since CIL's offer in October 2010, attracted bids for over 20.78 crore shares, while 18.89 crore equity shares were on offer. Of the total shares reserved for retail investors, there were bids for just 18%, while high networth individuals category was subscribed 29%. The qualified institutional buyers book, which closed Thursday, was over subscribed by 2.8 times.
The issue was in the price band of Rs. 210-240 a share.
(with PTI inputs)