Shilpi Cable IPO finally subscribed 3.48 times

Shilpi Cable Technologies IPO, which closed for subscription on Friday, March 25, 2011, was finally subscribed 3.48 times on an overall basis. The IPO received bids for 4449359 Equity Shares in the QIB Category as against 4298246 Equity Shares reserved for the category, thus making the category bid 1.04 times. The subscription from the HNI and Retail Categories stood at 6.39 times and 5.74 times respectively

Earlier, credit rating agency CARE had assigned an IPO Grade 1/5 to the IPO of Shilpi Cable Technologies Ltd. CARE assigns IPO grading on a scale of IPO Grade 1 to IPO Grade 5, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals. An IPO Grade 1 from CARE indicates that as per CARE, the company has "Poor Fundamentals"

Stay tuned to Indian IPO Blog for Shilpi Cable Technologies IPO Allotment Status and other updates!