IDEA Cellular IPO oversubscribed 32.5 times

Idea Cellular, an Aditya Birla Group company, which is amongst the leading mobile operators in India and currently operates in 11 Circles, is open for subscription with an initial public offering, IPO, aggregating Rs 21,250 million, of equity shares of Rs 10 each.
It has been receiving good response from investors especially qualified institutional investors and HNIs as QIBs portion subscribed 12.15 times till Feb 14.
The issue was oversubscribed 32.5 times, as per NSE website.
A 32.69 crore issue has been received 10.08 billion bids while 16.40 crore bids at cut off price.
The price band for the issue was between Rs 65 and Rs 75 per equity share. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange. The company has recently concluded a pre-IPO placement of Rs 3,750 million to some of its promoters, directors and certain high net worth individuals, which includes Rs 2,250 million from Aditya Birla Nuvo and Rs 1,371 million from Birla TMT Holdings Private Limited - both existing promoters of the company. This pre-IPO placement has been made at the top end of the price band.
The company has reserved equity shares aggregating Rs 500 million for allotment to its eligible employees, with the balance of Rs 20,750 million being the net issue available for allotment to the public.
The company also proposes a green shoe option not exceeding Rs 3,187.50 million in excess of the equity shares that are included in the Issue. The issue, with the green shoe option, aggregates Rs 24,437.50 million.

MindTree IPO oversubscribed 70.33 times

MindTree Consulting, an international IT and R&D Services Company that delivers business and technology solutions through global software development, has been received fantastic response from investors, especially FIIs and HNIs. More than 39.33 crore bids have been received against its issue size of 55.93 lakh shares while 1.87 crore bids at cut off price.
Analyst said that the issue is really good for short term as well as for long term. So just bet on it.
MindTree public issue was oversubscribed 70.33 times, till 4 pm on Feb 14, as per NSE website.
The issue is open for subscription with an initial public offering, IPO of 5,593,300 equity shares of Rs 10 each at a price band of Rs 365 to Rs 425 per equity share through the 100% book building process.
The issue comprises of a net issue of 4,940,740 equity shares of Rs 10 each to the public and up to 372,900 equity shares of Rs 10 each reserved for subscription by eligible employees and up to 279,660 equity shares of Rs 10 each reserved for subscription by business associates.
The issue will constitute 15% of the post-Issue capital of the company and the net issue will constitute 13.25% of the post-Issue capital of the company.
Of the net issue, 60% is being reserved for allotment to qualified institutional buyers, of which 5% will be reserved for allotment to mutual funds. A further up to 10% will be allotted to non-institutional investors and the balance up to 30% will be allotted to retail investors.
MindTree is organised into two divisions – Information Technology Services and Research and Development Services. IT Services comprise IT strategic consulting, application development and maintenance, package implementation and product engineering services. The IT Services business unit offers such services with a strong focus on certain industries including manufacturing, travel and transportation, banking, financial services and insurance.
R&D Services are organised into two divisions – Engineering, which provides product realisation services including architecture and design, re-engineering and product assurance to technology and product firms; and Research, which conceives and develops intellectual properties, primarily in the short-range wireless communication segment and licences and customises such intellectual properties for clients.
Kotak Mahindra Capital Company and JM Morgan Stanley are the book running lead managers, J P Morgan India is a co–book running lead manager and Macquarie India Advisory Services is a lead manager to the issue.