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November 22, 2007

Renaissance IPO subscribed 23.63 times

Initial public offering of Mumbai-based Renaissance Jewellery (RJL) was subscribed 23.63 times on closing. It received 125.82 million bids as against issue size of 5.32 million shares. A total of 18.17 million bids were received at the cut off price.

Retail segment is subscribed 10.5 times that mean the retail investor who applied for 475 or more will get a firm allotment for atleast one lot of 45 shares.

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