Infibeam IPO subscribed 45% on day 2

Infibeam Corporation's Rs 450-crore initial public offering (IPO) has been covered 45% a day before close. The 12.5 million share offering has received bids for 5.53 million shares, as per data provided by stock exchanges.

The institutional investor portion was subscribed 47%, while the high networth individual (HNI) and retail quota has been covered 1.4 times and 67% respectively.

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At least 75% of IPO is reserved for institutions, 15% for HNIs and 10% for retail. Infibeam's IPO, price in the range of Rs 360 to Rs 432 per share, closes on Wednesday.