MindTree Consulting Subscribed 103 Times

BSE and NSE finally shutdown their systems at midnight and till then they had received 577662585 bids against an offer of 5593300 subscribing the MindTree issue 103 times. We had a blind subscription rating on MindTree IPO.

The retail portion of the issue is subscribed by 30 times. The fate of Rs 1 Lakh application by retail investor will also be decided by lottery in the ratio of 1:2. Here is the breakup of subscription.

Category No.of shares offered/reserved No. of shares bid for No. of times of total meant for the category

Qualified Institutional Buyers (QIBs) 2964445 465359745 156.9804

Non Institutional Investors 494075 66679710 134.9587

Retail Individual Investors (RIIs) 1482220 44548665 30.0554

Cinemax listed on NSE today and the shares closed below the offer price. DalalStreet.Biz had an expensive rating on the issue. I wouldn’t BUY as the Great Indian Multiplex story is melting down.