On Sep.15, 2010, Initial public offering of Indosolar was stopped has been subscribed 1.55 times. Out of the total of 190.31 million bids acquired, 70.84 million bids were acquired at a cut-off price.
Retail individual investors led the race subscribing 1.81 times which was followed by qualified institutional buyers who gave to 1.44 times. Non institutional investors subscribed 1.30 times.
On Sept. 13, 2010, the public issue of Indosolar was launched. The company manufactures poly-crystalline solar photo-voltaic cells from silicon wafers utilising the crystalline silicon SPV cell technology.
The IPO price band was fixed between Rs 29 and Rs 32 for each equity share of face value Rs 10 each. The issue proceeds would be organized to finance the expansion of its SPV cell manufacturing capacities by adding a third line of 100MW.
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