Simplex Projects IPO ends with 85.53 times subscription
Major bids by the Non Institutional Investors
Simplex Projects IPO ended with 85.53 times subscription. The issue received total bids for 25.66 crore shares compared with total issue size of 30 lakh shares.
The total bids in the Qualified Institutional Buyers (QIBs) category were 13.56 crore shares. In this category, the Foreign Institutional Investors bid for 6.25 crore shares, the Domestic Financial Institutions 5.60 crore shares and the Mutual Funds bid for 1.58 crore shares.
The Non Institutional Investors bid for 6.92 crore shares. The Retail Investors bid for 5.17 crore shares, of which, 4.97 crore shares were bid at cut off price and 20.17 lakh shares were bid at fixed price.
The Kolkata-based firm had set a price band between Rs 170 – 185 a share.
At the offer price band of Rs 170-Rs 185, the PE range on the basis of standalone FY 2007 EPS of Rs 8.70, works out to 19.5 to 21.3
The funds would be used for long-term working capital and to acquire plant and machinery.
Simplex posted a net profit of Rs 10.49 crore for the year ended March 2007, on sales of Rs 135.76 crore.
Simplex specialises in piling and foundation, civil construction and transportation engineering projects.
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