Wednesday, October 26, 2005

Prithvi Information IPO subscribed 2.54 times


Prithvi Information Solutions entered the capital market on October 25, with a public issue of 50 lakh equity shares of Rs 10 each for cash. The issue has been subscribed 2.54 times till 4 pm, as per the NSE website. The QIBs portion has been subscribed 4.41 times.

Its price band has been fixed at Rs 250-270 per equity share of face value of Rs 10 each. The issue closes on October 28, 2005.

Comprising 4,50,000 equity shares of Rs 10 each reserved for the eligible employees of the company and a net offer to public of 45,50,000 equity shares of Rs 10 each.

The issue is being made through the 100% book building process wherein upto 50% of the issue shall be issued on a discretionary basis to Qualified Institutional Buyers, QIBs.

Further, atleast 15% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and atleast 35% of the issue shall be available for allocation on a proportionate basis to retail bidders.

The book running lead managers for the issue are Anand Rathi Securities, Karvy Investor Services and SREI Capital Markets and the syndicate members are Enam Financial Consultants and Karvy Stock Broking.

The equity shares of the company will be listed on the BSE and NSE.

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