Three IPOs get robust investors response

The issue of Eros International Media was oversubscribed 25.76 times, Career Point Infosystems' 46.82 times and Microsec Financial Services' about 12 times, as per the data available with NSE.

Today was the last date for all three issues. The IPO of Career Point opened on September 16, while that of Eros and Microsec Financial opened on September 17.

"Market sentiment is buoyant and it is helping the issues to get such a robust response. There are enough appetite for such issues in the market," Enam Securities MD (Investment Banking) Srinivasan Subramanian told PTI.

Media and entertainment firm Eros, which seeks to raise Rs 350 crore through this IPO, got overwhelming demands from all types of investors -- institutional, non-institutional and retail.

Eros International Media Ltd (EIML) has come out with a public issue of Rs 350 crore in the price range of Rs 158 to Rs 175 per share.

In qualified institutional buyers category, the issue was oversubscribed 30 times and in HNI portion 73 times, merchant banking sources said.
Enam Securities, Kotak Mahindra Capital, Morgan Stanley India Company and RBS Equities (India) are book running lead managers to the issue.

On the other hand, the public float of Microsec Financial was oversubscribed 12 times. The non-banking financial company wants to raise Rs 147.5 crore through its maiden IPO. The firm has fixed a pice band of Rs 113 to Rs 118 per share.
The QIB portion was subscribed 5.91 times, HNI segment 35.88 times and retail portion 8.24 times, investment banking sources said.

Besides, the Kota-based tutorial services provider Career Point Infosystems' issue was oversubscribed 46.82 times. The company aims to raise Rs 115 crore via its IPO, which has been priced in the range of Rs 295-310 per equity share.
Upbeat foreign investors today pushed the stock market benchmark Sensex above the 20,000 points-mark for the first time in 32 months, as they bet on companies that are driving the India growth story.

The barometer closed 95.45 points, or 0.48 per cent, up at 20,001.55 - its best closing since January 15, 2008, when the index ended at 20,251.09 points.

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