08-11-06
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#2
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New Member
Join Date: Oct 2006
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impressive opening response ....
News has it that.....
Parsvnath IPO fully subscribed on first day
Quote:
Real estate major Parsvnath Developers witnessed an impressive opening response for its Rs 1,000 crore initial public offer with the issue getting fully subscribed on the very first day.
The IPO, which opened for subscription today, received bids for about 4 crore shares by the afternoon against a total of 3.3 crore shares that were on offer.
Merchant banking sources close to the development said the issue was well received by the institutional investors, including the domestic and overseas funds, who are upbeat on the prospects of the Indian real estate and infrastructure sectors.
Parsvnath Developers which hit the capital market with a public issue of 3,30,38,000 equity shares with a price band of Rs 250-300 per share, constitutes 18.30 per cent of the company's fully diluted post-issue paid-up capital. The company has by far reserved up to two lakh equity shares for subscription by its employees.
- Economic times (Nov 6 '06)
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Your take on it. How impressive? Can we believe it to be the last call to success? Or there are more factors to decide.....
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