Fortis Healthcare IPO subscribed 2.78 times
Fortis Healthcare, one of the largest private healthcare companies in India and a Ranbaxy promoter group company, has been received modest response due to mixed reactions from lot of brokerage firms. According to report, some has recommended the issue for long term while others advised to ignore the issue and some concerns on profits for next few years due to buyout of Escorts.
It was subscribed 2.78 times, till 5:30 pm on April 20, as per NSE webite. More than 12.74 crore bids have been received by the issue, which includes 4.16 crore bids at cut off price.
The company had entered the capital market with an initial public offer (IPO) of 45,996,439 equity shares of Rs 10 each for cash at a premium to be decided through a 100% book building process.
The company proposes to allot 242,476 equity shares to eligible employees in the firm allotment portion. The price band for the issue has been fixed between Rs 92 and Rs 110 per equity share.
The net issue is expected to constitute 20.19% of the post-Issue paid-up equity share capital of the company. The shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
The company has concluded pre-IPO allotments of 10,670,194 equity shares with four entities at prices ranging from Rs 135 to Rs 159.50 per share aggregating to Rs 1,536.90 million during the period between January 05, 2007, and March 20, 2007. These entities are Raj Kumar Bagri (1,000,000 equity shares), Apurv Bagri (1,000,000 equity shares), Trinity Capital (Eight) (8,000,000 equity shares) and Vasco Inc. (670,194 equity shares).
Of the net issue to the public, at least 60% shall be allotted to qualified institutional buyers (QIB). Within the QIB portion, 5% will be available for allocation to mutual funds only. Not less than 10% of the net issue will be available for allocation to non-institutional bidders and the balance of not less than 30% of the Net Issue will be available for allocation to retail investors, in each case on a proportionate basis.
The book running lead managers to the issue are J M Morgan Stanley Private Limited, Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited
It was subscribed 2.78 times, till 5:30 pm on April 20, as per NSE webite. More than 12.74 crore bids have been received by the issue, which includes 4.16 crore bids at cut off price.
The company had entered the capital market with an initial public offer (IPO) of 45,996,439 equity shares of Rs 10 each for cash at a premium to be decided through a 100% book building process.
The company proposes to allot 242,476 equity shares to eligible employees in the firm allotment portion. The price band for the issue has been fixed between Rs 92 and Rs 110 per equity share.
The net issue is expected to constitute 20.19% of the post-Issue paid-up equity share capital of the company. The shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
The company has concluded pre-IPO allotments of 10,670,194 equity shares with four entities at prices ranging from Rs 135 to Rs 159.50 per share aggregating to Rs 1,536.90 million during the period between January 05, 2007, and March 20, 2007. These entities are Raj Kumar Bagri (1,000,000 equity shares), Apurv Bagri (1,000,000 equity shares), Trinity Capital (Eight) (8,000,000 equity shares) and Vasco Inc. (670,194 equity shares).
Of the net issue to the public, at least 60% shall be allotted to qualified institutional buyers (QIB). Within the QIB portion, 5% will be available for allocation to mutual funds only. Not less than 10% of the net issue will be available for allocation to non-institutional bidders and the balance of not less than 30% of the Net Issue will be available for allocation to retail investors, in each case on a proportionate basis.
The book running lead managers to the issue are J M Morgan Stanley Private Limited, Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited
posted by rtotla at
9:02 AM
1 Comments:
Can you guess how many shares i will get?
I have subscribed for 540 shares at RS 110
What is the cut-off price for retail price?
ALso, any ime frame for fortis listing?
Thanks
sri
By
meltyourfat, at 4:06 AM
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