On Thursday Wockhardt Hospitals Ltd withdrew its Initial Public Offering (IPO) due to Volatile market. The issue was subscribed by a mere 18% on the last day of its closing Thursday. The company plans to refund the entire IPO money within 15 days.
The IPO of 25 million shares opened for subscription initially in the price band of Rs.280 to Rs.310, But thatafter the company cut the price band to Rs.225 to Rs.260 per equity share Feb 5. Reduce the price band was done due to volatile Indian Stock Market and World Stock Market.
Sunday, February 10, 2008
Wockhardt withdraws IPO
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