C Mahendra Exports received an oversubscription to its initial public offer (IPO) 2.78 times on the final day of issue – 6th January 2011, reports say. The company had launched the IPO as a Rs 165-crore public offer with 1.5 crore equities on offer, but it received bids of 4.2 crore shares, reports suggest. The IPO generated demand worth around Rs 462 crore. %% The issue ended with part reserved for qualified institutional buyers (subscribed 1.02 times), non-institutional investors (subscribed: 3.92 times) and retail investors (subscribed:4.82 times), reports say. %% The company had fixed the price band at Rs 95-110 per share.