New Delhi, May 9 -- The initial public offering (IPO) of IT services firm Virtual Galaxy Infotech opened for subscription on Friday, May 9, and will close on Wednesday, May 14. The Rs.93 crore SME IPO is entirely a fresh issue of nearly 66 lakh shares. The IPO is witnessing tepid response and current grey market trends indicate the stock could be listed at a nominal premium of 4 per cent.

By 11:30 AM on Friday, the first day of subscription, the issue had been subscribed 4 per cent, with the retail portion booked 7 per cent and the segment reserved for non-institutional investors (NIIs) subscribed 1 per cent. The segment reserved for qualified institutional buyers had not seen any subscriptions until then.

1. Virtual Galaxy Infotech IPO...