The initial public offering of construction firm PSP Projects was subscribed 11 per cent on the first day of bidding today.
The category reserved for non-institutional investors was subscribed 15 per cent and retail investors 38 per cent.
PSP Projects yesterday raised a little over Rs 95 crore from anchor investors.
The company's initial share-sale offer will close on May 19. It has fixed the price band at Rs 205-210 per equity share.
Proceeds from the fresh issue will be utilised towards funding working capital requirements and for general corporate purposes.
The issue is being managed by Karvy Investor Services and Motilal Oswal Investment Advisors.
PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India.
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