Date:26/08/2006 URL: http://www.thehindubusinessline.com/2006/08/26/stories/2006082605091500.htm

Back Voltamp IPO subscribed 0.86 times

Our Bureau

Mumbai , Aug. 25

The initial public offering (IPO) of Voltamp Transformers Ltd has been subscribed 0.86 times at the close of second day. Of the public issue of 48,83,840 equity shares, the portion for qualifies institutional bidders has been subscribed 1.79 times.

However, the retail portion remains highly un-subscribed at 0.0294 times.

Bids have been received across the price band of Rs 295 to Rs 345 with a face value of Rs 10 per share.

The IPO, which doesn't involve any fresh issue of shares, constitutes 48.27 per cent of the post issue paid-up capital of the company, with the founders' stake going down to 51.73 per cent after the IPO.