Saturday, December 15, 2007

Brigade Enterprises IPO subscribed 12.87 times

The Initial Public Offering (“IPO”) of Brigade Enterprises Limited (the “Company”), a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, was subscribed 12.87 times (Source: National Stock Exchange website) as of 5 p.m. on December 13, 2007.

According to sources, the Qualified Institutional Bidders portion was subscribed approximately around 17.89 times; the Non-Institutional Bidders portion was subscribed approximately around 4.89 times; the Retail Bidders portion was subscribed approximately around 5 times; and the Employees quota was subscribed 1.39 times as of 5 p.m. on December 13, 2007. The Company received 163,041 applications. According to the NSE website, the Company received Total Bids of 214,008,352 and 23,120,368 at cut-off).

The Company entered the capital market with an IPO of 16,624,720 Equity Shares of Rs 10 each (“Equity Shares”) for cash, at a price to be decided through the 100% book building process (the “Issue”). The Bid/Issue opened for subscription on December 10, 2007 and closed on December 13, 2007. The Price Band has been fixed between Rs 351 and Rs 390 per Equity Share.

Sourced From: Adfactors Public Relations Pvt Ltd

Source : moneycontrol.com

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