Kaveri Seed IPO subscribed by 4.51 times

The IPO by the Kaveri Seed Company Limited, one of the few recognized agri-input companies in India, has received an excellent response from investors and was subscribed 4.51 times and oversubscribed by 3.51 times.

Qualified Institutional Buyers (QIB) Portion was  subscribed  by 5.59 times and High Networth Individual Portion was subscribed by 4.96 times.

The company had entered the capital markets on 6th September 2007 with a public issue of 40,00,000 equity shares of Rs.10 each through 100% book building process in the price band of Rs.150 to Rs.170 per equity share. The issue will constitute 29.20% and the net issue will constitute 27.74% of the fully diluted post issue paid-up capital of the company.

Anand Rathi Securities Ltd, Sobhagya Capital Options Ltd and SREI Capital Markets Ltd are the BRLMs for the issue.For furhter updates on Kaveri Seed IPO Allotment Status,Listing date,Grey Market Prices and refund details do check this blog regularly.