Indowind Energy IPO subscribed .52 times on Day 1

Chennai-based Indowind Energy (IEL), a company engaged in power business, received 52% subscription for its initial public offering (IPO) on day one. IEL  entered the capital market via IPO to raise funds upto Rs 812.50 million. The company received 6,477,300 bids as against issue size of 12.50 million shares.

IEL fixed price band of Rs 55 to Rs 65 and the issue is open for subscription till August 23. The net issue would constitute 25% of the fully diluted post issue paid up capital of company. The book running lead manager to the issue is UTI Securities. Shares of the company will be listed on both BSE and NSE.

For further updates on Indowind Energy Ltd IPO Subscription Details, Allotment details,IPO price, Listing Dates and refund details do check this blog regularly.