Oberoi Realty IPO a big success
Monday, 11 October 2010
MUMBAI, Oct 10 (Business Standard): The initial public offer (IPO) of Oberoi Realty was subscribed 12.13 times till 5 pm Friday, the last day for bids. Data with the National Stock Exchange (NSE) show bids for 391.67 million equity shares were received, as against 32.44 million shares on offer, in the price band of Rs 253 to Rs 260.
Oberoi Realty has turned out to be the best real estate IPO of the year, in terms of overall subscription.
The institutional portion was subscribed 22.14 times, said the company. While the non-institutional portion was subscribed 3.61 times, the retail segment remained under-subscribed, at 0.94 times.
Nitesh Estates was the earlier developer to launch an IPO, in April. The issue was subscribed only 1.13 times, with the retail and non-institutional investor categories remaining under-subscribed.
Oberoi Realty has turned out to be the best real estate IPO of the year, in terms of overall subscription.
The institutional portion was subscribed 22.14 times, said the company. While the non-institutional portion was subscribed 3.61 times, the retail segment remained under-subscribed, at 0.94 times.
Nitesh Estates was the earlier developer to launch an IPO, in April. The issue was subscribed only 1.13 times, with the retail and non-institutional investor categories remaining under-subscribed.