Lotus Eye Care Hospital has extended the closing date of the initial public offering to June 20, 2008 due to the poor response of the issue from the secondary market. The issue opened on June 12 and was scheduled to close on June 17.
The price band also revised down ward to Rs36-Rs38 per share from Rs38-42 earlier. The company despite of reducing the price band has received the poor response on Wednesday.
The issue received 61,42,800 bids out of which 23,44,950 bids were received at the cut off price. The retail portion was subscribed 0.70 times, qualified institutional buyers portion was subscribed 0.68 times, non institutional investor's portion was subscribed 0.13 times.
The IPO proceeds will be utilized to finance the expansion of existing facilities along with to establish new centers with latest technology and meet working capital requirement.
Keynote Corporate Services is the sole book running lead manager to IPO.
The price band also revised down ward to Rs36-Rs38 per share from Rs38-42 earlier. The company despite of reducing the price band has received the poor response on Wednesday.
The issue received 61,42,800 bids out of which 23,44,950 bids were received at the cut off price. The retail portion was subscribed 0.70 times, qualified institutional buyers portion was subscribed 0.68 times, non institutional investor's portion was subscribed 0.13 times.
The IPO proceeds will be utilized to finance the expansion of existing facilities along with to establish new centers with latest technology and meet working capital requirement.
Keynote Corporate Services is the sole book running lead manager to IPO.
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