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DCB IPO fully subscribed

The Initial Public Offer of Developement Credit Bank has been fully subscribed, while other five ongoing IPOs are still undersubscribed.

india Updated: Oct 04, 2006 12:15 IST

The public sale of Development Credit Bank shares has been fully subscribed on Tuesday, while other five ongoing initial public offerings(IPOs)are still under-subscribed.

The Bank, which entered the capital market with an issue of 7.15 crore equity shares, received 7,95,44,750 bids for the offering, according to information on the stock exchanges.

The price band for the issue has been fixed at Rs 22 to Rs 26 per share and the issue will close on October 6.

The other five ongoing IPOs have got weak response from investors and have failed to get fully subscribed.

Accel Frontline, which is issuing over 56.35 lakh equity shares, received bids of only 2.74 per cent of the offered amount.

The price band for the offer has been fixed at Rs 75 to Rs 90 per share.

Hanung Toys and Textiles' public offer of 95 lakh equity shares also received disappointing response from the investors as its got subscribed only 55.83 per cent of the offer.

While, JHS Svendgaard Laboratories IPO, which closes Wednesday, remained under subscribed with about 86 per cent bids for the issue of 62 lakh equity shares.

Another public offer Global Vectra Helicorp remained under-subscribed with only 0.26 per cent bids for the offered 35 lakh equity shares and the issue will close on October 6.

The price band has been fixed at Rs 175 to Rs 200 per share.

Minar International Ltd's IPO received 42 per cent subscriptions for its offer of over 69.23 lakh equity shares.

The issue, priced at Rs 100 to Rs 115 per share,closes on October 5.

First Published: Oct 04, 2006 12:15 IST