15 May 07 Asahi Songwon Colors Limited Subscription Details – IPO Issue Oversubscribed
Asahi Songwon Colors Limited IPO closed for subscription today. The Asahi Songwon Colors Limited IPO fared pretty well on the last day of subscription. The subscription / oversubscription rates, though not great, are much better than the binani cement and the insectisides IPO, when you consider the institutional investor category oversubscription. The retail individual category in the Asahi Songwon IPO was subscribed 0.52 times (undersubscribed 0.48 times). The High networth individual category was subscribed 0.39 times (undersubscribed 0.61 times). The institutional investor category got a subscription of 3.215 times (oversubscribed by 2.215 times). Overall, the Asahi Songwon Colors IPO was subscribed little less than 1.85 times (over-subscribed 0.85 times).
Good luck to those who have invested in the Asahi Songwon IPO. Personally, I feel Asahi Songwon Colors Limited will have a better listing than binani cement and insectisides India. This is because of the good support it received from institutional investors. Institutional Investors are likely to hold the shares for a few years (atleast for a few months) and won’t sell on listing. Hence Asahi Songwon Colors will not have much selling presuure on the day of its listing. The listing date of Asahi Songwon Colors Limited is likely to be somewhere in the first week of June. Asahi Songwon Colors Limited will list both on the NSE and the BSE. Investors who have invested in the Asahi IPO can expect the IPO refund in the last week of May through ECS. Allotment is likely to be made a few days before the listing date. The allotment status of Asahi Songwon Colors Limited IPO and the detials for checking the allotment status online will be posted here as soon as they are available.
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