Autoline IPO oversubscribed

Chennai, Jan 13 (UNI) Leading Pune-based automobile manufacturer The Autoline's IPO of Rs 750 million through 100 per cent book building process has received good response from investors in all categories with the issue being oversubscribed.

According to the company press release, a total of 75,594 applications were received with the QIB portion being subscribed over 18 times, HNI portion over 36 times and retail portion over 14 times.

The issue opened on January eight and closed on January 12, 2007.

The price band had been fixed between Rs 200 and Rs 225 per equity share of Rs ten each.

The bulk of the bids in the QIB and HNI categories were at the upper end of the price band while the large majority of retail applications were received at 'cut off' price.

UNI