ARSS Infrastructure Projects IPO subscribed more than 4 times

QIB category subscribed more than 5 times

The initial public offer of ARSS Infrastructure Projects was subscribed more than 4 times by 16:00 IST on the third day of the issue today, 10 February 2010. The IPO received bids for 1.02 crore shares as compared to 25.12 lakh shares on offer. The issue closes on Thursday, 11 February 2010. The price band for the IPO is Rs 410 to Rs 450.

Foreign institutional investors (FIIs) had put in bids for 79.43 lakh shares at the end of day two on Tuesday, 9 February 2010. That compared to 15.07 lakh shares reserved for the qualified institutional buyers category as a whole. The non-institutional investors segment, comprising of high networth individuals and corporates was bid 1.47 times at the end of day two. The retail segment was bid 0.58 times.

ARSS Infrastructure Projects (AIPL) provides construction services for railway infrastructure, roads & highways and irrigation projects.