Business Standard

NBCC IPO subscribed 58% on Day 3

Related News

The (IPO) of state-run National Buildings Construction Corporation (NBCC) 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 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.

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

Bhushan Steel's cup of woes full to the brim

Faced with high debt, and a credit crunch from lenders, Bhushan Steel's decline has been a while in the making

Market is close to over valued territory

Valuation cannot be seen in isolation. It is relative to prevailing interest rates and returns available from other assets

Sensex rises for 4th quarter in a row

The BSE Sensex and Nifty edged higher on Tuesday, marking their fourth consecutive quarterly gain. The Nifty rose only 0.07 per cent for ...

BJP defeat would hurt stocks: CLSA

A loss for the Bharatiya Janata Party in Maharashtra and Haryana would be "sentiment negative" for Indian stocks, CLSA has said in a note. The ...

Rough diamond prices may see 5-10% correction

Decline in finance availability from lenders is the primary reason

Back to Top