Standard Chartered PLC IDR Issue concludes with 2.2 times subscription - Indian IPO Blog

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Friday, May 28, 2010

Standard Chartered PLC IDR Issue concludes with 2.2 times subscription

Standard Chartered PLC IDR Issue, the first-ever Issue of Indian Depository Receipts (IDRs) in India, has finally concluded with an overall subscription figure of 2.20 times. The IDR Issue has received lukewarm subscriptions in the Retail and Employee categories which were subscribed 0.25 times and 0.20 times respectively. The IDR Issue has received good response from QIB category which received bids for 348394400 Equity Shares as against 84000000 Equity Shares reserved for the Category, thereby making the category subscribed 4.15 times

The price band for the IDR Issue in India from Standard Chartered PLC was set at Rs.100/- to Rs.115/- per Indian Depository Receipt (IDR) with Ten IDRs which would become equivalent to One Share of StanChart PLC

Retail Investors and Eligible Employees whose bid amount does not exceed Rs.100,000 would be entitled for a Discount of 5% on the final Issue Price of the IDRs

Click here for Standard Chartered PLC IDR Issue - Final Subscription Statistics

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