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Our Bureau

Mumbai , Feb. 24

THE initial public offering of Jet Airways, which closed on Thursday, has been subscribed over 14 times.

According to sources close to merchant bankers, the retail portion has been subscribed three times, and the QIBs category 21 times. The number of applications received from the retail segment was 4.5 lakh. The sources said that counting of applications was still on and these figures were based on data received at 8 p.m.

The total number of bids received were 25.34 crore, according to data published on the NSE Web site.

Even as the initial market buzz was that the issue was priced on the higher side, 98 per cent of the bids received were at the upper end of the price band at Rs 1,125. The total commitment amounts to $6.5 billion. The issue size was 1.73 crore shares of Rs 10 each in the Rs 950 to Rs 1,125 price band.

Allotment price is likely to be announced on February 28, while the issue may be listed on March 14, the sources said.

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