Jet IPO subscribed 15 times
By Our Corporate Bureau | 25 Feb 2005
1
Mumbai: The initial public offer (IPO) of Jet Airways closed yesterday, with a over-subscription of 15 times.
The company received bids for more than 240 million shares. This translates into a subscription of around Rs29,000 crore. Merchant banking sources said the shares would be listed on or around March 14.
Sources close to the issue said the retail portion of the issue was subscribed about three times, drawing in more than 400,000 applications.
The institutional portion was subscribed 22 times, merchant banking sources said, adding that over 99 per cent of the bids were made at Rs1,125, the upper end of the price band.
