Date:08/12/2006 URL: http://www.thehindubusinessline.com/2006/12/08/stories/2006120803371500.htm

Back XL Tele IPO subscribed 8.7 times

Our Bureau

Mumbai , Dec. 7

The initial public offering of XL Telecom Ltd has been subscribed 8.68 times on the BSE and the NSE at 7.00 pm today. The company had offered 39.56 lakh equity shares of Rs 10 each at a price to be determined through the book building process.

Bids have been received across the price band of Rs 125-Rs 150. All the categories including QIB, non-institutional investors and retail individual investors were oversubscribed at 5.00 pm.

The QIB portion was subscribed 9.8 times, non-institutional investor portion by 10.89 times and the retail portion by 7.10 times.

Anand Rathi Securities Ltd and Centrum Capital Ltd are the book running lead managers to the issue.