VKS Projects Limited (VKS) which had tapped the capital markets to raise Rs 55 crs was subscribed. The issue which had a price band of Rs 55-60 was open from the 29th of June and closed yesterday the 4th of July. The issue was subscribed an overall 1.03 times with the QIB and Retail portions being oversubscribed. The HNI portion remained unsubscribed.
The details of the subscription level in various categories are given below: –
| Category | Shares Offered | Shares Subscribed | Times |
| QIB | 5000000 | 5771000 | 1.15 |
| NII | 1500000 | 574700 | 0.38 |
| Retail | 3500000 | 3954100 | 1.13 |
| Overall | 10000000 | 10299800 | 1.03 |
Looking at the bidding details it appears that the issue would be priced at the lower end of the price band of Rs 55. One hopes that with IPO’s simply not happening the confidence of the few investors who have come to this issue is not shattered but is built and helps in improving investor sentiment going forward.
