The initial public offer (IPO) of Mahindra Holidays & Resorts got subscribed 20 per cent on the first day of its issue today with most of the bids coming in from institutional investors.

The issue received bids for 18.75 lakh shares, representing 0.20 times of the shares on offer, as per data available with the National Stock Exchange (NSE).

Also Read   Related Stories News Now - Sensex bucks global trend, closes flat - Mahindra Holidays' IPO revives Guj grey market - Mahindra Holidays IPO subscribed 20% on debut day - Sensex ends flat amid high volatility - Sensex ends down 50pts - Sensex rebounds; Oil & Gas, PSU lead

Also Read   Related Stories News Now - Markets end lower ahead of May F&O expiry - CII seeks two more years to comply with minimum 25% public float norms - Zuckerberg's fortune dips - Essar Ports gets Rs 175 cr investment from Port of Antwerp - Reliance Comm names new CEO for mobile unit More

Qualified institutional buyers, which include foreign institutional investors (FIIs) and mutual funds, subscribed 32 per cent of the 55.59 lakh shares reserved for them, the NSE data shows. The company has come out with an IPO of over 92.65 lakh shares and the issue would close on June 26.

Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India) and SBI Capital Markets are the lead managers to the issue.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end lower ahead of May F&O expiry - CII seeks two more years to comply with minimum 25% public float norms - Zuckerberg's fortune dips - Essar Ports gets Rs 175 cr investment from Port of Antwerp - Reliance Comm names new CEO for mobile unit

Tags : ipo | nse | fii   Read Business news in  Advertisements -  India's no. 1 Property Site. Click here to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Journey on, We are by Your Side. Click here to know more -  Help a Child Achieve her. Click to know more -  "Discover The Power of One" -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  Learn How One City is Running on FOOD SCRAPS. -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More -  2 Lac Apartments, 1 Lac House / Plots. Click here