It was a tale of contrasts for the two initial public offerings (IPOs) that are closing for subscription today. While real estate firm Sobha Developers' IPO has been subscribed 68 times, the other IPO by Ruchira Papers was able to scrape through with only 1.83 times the subscription, as per the data available with the National Stock Exchange. The IPOs will close at 1700 hrs today. Sobha Developers, which is issuing 88.93 lakh shares through the IPO, was also able to get 42.22 times subscription from qualified institutional buyers (QIBs). A large chunk of it was from foreign institutional investors (FIIs). The retail portion of the IPO was subscribed 2.15 times.In contrast, it was not an easy ride for Ruchira Papers. The retail segment is yet to get full subscription with just about an hour to go for the close of the issue. The QIB portion has been subscribed 1.62 times, but the IPO has not seen even a single application from FIIs.
