Post its issue closing on May 3, it was seen that the IPO of SJVN Ltd. has been over-subscribed 6.64 times it original number.

While the analysts think that the issue has just got lukewarm response, it is commendable looking at the kind that was generated by other disinvestment IPOs.

As per the latest information, the public issue received bids for 2,754,524,000 equity shares as against its offer of 415,000,000 equity shares. For as many as 326,502,000 it got bids at the cut off price. The others were other over-priced or were given below the price allotted.

But, most of the bids were received on the upper-end of the price band of Rs. 26.
 
As informed by the company, the issue was able to generate a lot of bids in the foreign investment sector. The Qualified Institutional Buyers (QIBs) got bids to the tune of 2,229,445,750 equity shares against the offer of 246,990,000 equity shares. This means that this area was covered up more than nine times.

The non-institutional investors were subscribed more than three times and received bids for bids for 139,437,000 equity shares.

Retail investors showed their interest, with their portion getting 3.11 times more bids than expected.