Tech Mahindra’s IPO closed today and according to figures made available by the National Stock Exchange of India, the issue has received terrific response. The institutional part of the issue was oversubscribed by a whopping 104 times leading to a collection of Rs29,000 crores($6.3 Billion). However, institutions will get allotment of just Rs279 crores and the excess will be refunded. The High Networth Individuals quota was oversubscribed 142 times and the retail investors quota was oversubscribed by 7.84 times leading to collection of Rs6,645 crores and Rs1094 crores according to NSEIndia release @ 20:15Hrs on Friday. Rs4600 crores($1 Billion)
2006-08-04