Business Standard

NBCC IPO subscribed 58% on Day 3

Read more on:    Nbcc | Ipo | Initial Public Offer
Related News

The () of state-run National Buildings Construction Corporation () was subscribed 58.30% at the end of third day today.

The IPO, which closes tomorrow, attracted bids for about 6.995 million shares, creating demand worth Rs 74.15 crore, by 1724 hours today.

The category reserved for retail investors was subscribed 93%, while the portion meant for Qualified Institutional Buyers (QIB) was subscribed 52%, according to stock exchanges data.

The price band of the IPO has been fixed at Rs 90-106 per share. At the lower end, the government would raise about Rs 108 crore while at the upper band about Rs 127 crore would be garnered.

NBCC under the administrative control of Ministry of Urban Development provides project management consultancy services for construction projects, civil infrastructure for power sector and real estate development.

NBCC is the government's third and last disinvestment candidate in the current fiscal, after Follow-on Public Offer of Power Finance Corp (PFC) in May 2011 and sale of shares through a one-day auction of ONGC earlier this month.

The government has raised a total of Rs 13,894 crore from PFC's FPO and ONGC share sale.

Read more on:   
|
|

Read More

Drafting of prospectus for RINL IPO underway: minister

Preparation of draft prospectus for the initial public offering (IPO) of Rashtriya Ispat Nigam Ltd (RINL) is underway, Parliament was informed today.

Quick Links

 

Market News

Sebi's draft Fatca norms: Greater scrutiny ahead for high-value US accounts

Financial institutions that don't comply with Fatca can be subject to withholding tax of 30% on payments from US sources

India produces 7.25 MT steel in March: WSA

The country, however, clocked a 3.9% growth rate in production, while world's average growth rate was at 2.7%

Chana up 0.8% on good demand

Commodity for delivery in May increased by 0.83%

Back on track: Railway stocks up on elections frenzy

The stocks have been up for the third day in a row

Sensex, Nifty retreat from record high levels

Sensex touched its all-time high of 22,875.17 and the broader Nifty kissed 6,861.60 figure for first time

Back to Top