22 Jun 07 Ankit Metal and Power Limited IPO Subscription Details : IPO Oversubscribed
Ankit Metal & Power Ltd IPO closed for subscription today. The Ankit metal IPO oversubscribed in the last few hours of subscription. The final subscription stats are not very encouraging and I feel Ankit metal and power limited is on for a bad listing. Retail investor category in the Ankit Metal & Power ltd IPO has been subscribed by about 2.43 times (oversubscribed by about 1.43 times). The high networth individual category in the Ankit Metal & Power ltd IPO has been subscribed by about 3.8 times (oversubscription ratio : 2.8 times). The institutional investor category remained undersubscribed receiving a subscription of a little less than 0.72 times the IPO issue size (undersubscribed by about 0.28 times). Overall, the Ankit Metal IPO has been subscribed 1.58 times (oversubscribed .58 times). Personally, I feel Ankit Metal & Power Limited will have a poor listing and might provide listing losses. The listing date of Ankit Metal & Power Limited is likely to be somewhere in the third week of July. Ankit Metal & Power Limited will list both on the NSE and the BSE. Investors who have invested in the Ankit Metal IPO can expect to receive the IPO refund in the second week of July through ECS. Allotment is likely to be made a few days before the listing date. The allotment status of Ankit Metal IPO and the details for checking the allotment status online will be posted here as soon as they are available.
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