V-Guard IPO subscribed 96%

The initial public offering (IPO) of V-Guard Industries of eight million shares in the price band of Rs 80-85 per share has been subscribed 96% till 1700 hrs.

The company has received bids for 7.65 million shares with the maximum bids being made at Rs 85 per share.

Two high-profile IPOs, Wockhardt Hospitals and Emaar-MGF Land, were withdrawn earlier this month due to poor investor response.

The IPO of Rural Electrification Corporation for 156.12 million shares in the price band of Rs 90-105 per share opens tomorrow.