25 Apr 07 Bhagwati Banquets and Hotels Limited IPO Subscription – IPO Oversubscribed
The Bhagwati Banquets and Hotels Limited IPO has been oversubscribed on the final day. At the end of the final day, the Bhagwati Banquets and Hotels Limited IPO has been subscribed 1.83 times. Bhagwati Banquets IPO has recieved fairly good response from retail as well as high networth individuals. However the IPO has failed to attract institutional interest. The Qualified Institutional Buyers category remains undersubscribed. This indicates that the Bhagwati Banquets and Hotels IPO is in for a bad listing. There is likely to be huge selling pressure during the day of listing of Bhagwati Banquets and Hotels shares in the indian stock exchanges, since retail investors as well as high networth investors usually invest for listing gains and tend to sell off the shares they have been alloted on the day of listing.
Category wise subscription details of Bhagwati Banquets and Hotels Limited IPO
Qualified Institutional Buyers category (QIB) – 0.42
Non Institutional Investors category (HNI)    - 3.54
Retail Individual Investors category (RII)     – 3.09
Bhagwati Banquets and Hotels IPO allotment details are out. The Bhagwati Banquets IPO refund will be made next week. Bhagwati Banquets and Hotels is expected to list next week. The exact listing date will be posted here as soon as it is announced. Allotment details can be checked here
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