Brooks Laboratories IPO, which closed for subscription yesterday on August 18, 2011, has received a lacklustre response and has been subscribed 1.60 times on an overall basis. The reserved portion of Retail Investors was subscribed 3.36 times whereas the Non-institutional investors' category received subscription upto 2.82 times.
However, even while the overall subscription crossed 1.5 times, one thing that unmistakably would come into everyone's eyes would be the lack of any participation in the IPO from the QIB investors. The QIB category has not received any bid while 35,00,000 shares were reserved for the category
Brooks Laboratories IPO had opened for subscription from August 16, 2011. The shares were offered in a Price Band of Rs.90/- to Rs.100/- per equity share for shares having a Face Value of Rs.10/- each. The IPO was assigned an IPO Grade 2 by the credit rating agency ICRA, indicating "Below Average Fundamentals"
Check back Indian IPO Blog for the Allotment Status, Basis of Allotment and listing day updates on Brooks Labs IPO!
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