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Wednesday, December 8, 2010

A2Z Maintenance and Engineering IPO bid 0.72 times on Opening Day, squarely on HNI support

A2Z Maintenance and Engineering IPO has been bid about 72% on an overall basis, chiefly on support from Non-Institutional Investors. The IPO, which has been assigned an IPO Grade 4/5 by credit rating agency CARE Limited, would remain open for subscription till Friday, December 10, 2010

The subscription of 0.72 times on an overall basis is mainly on account of HNI participation on the opening day with the category receiving bids for 13039320 Equity Shares as against 3199679 Equity Shares reserved for the category, thus taking the oversubscription in HNI Category to 4.08 times already. The Retail Category has received a paltry 1% subscription on the opening day and the subscriptions in the other categories have also been negligible so far

A2Z Maintenance & Engineering Services is an engineering, procurement and construction (“EPC”) company and provides services to the power transmission and distribution sector with a focus primarily on the distribution segment. Check back Indian IPO Blog regularly for latest updates on A2Z Maintenance and Engineering IPO!
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