 "Garden Reach Shipbuilders & Engineers' Rs 3.4 bn IPO to open on Sept 24")
Government-owned Garden Reach Shipbuilders & Engineers’ Rs 3.4-billion initial public offering (IPO) will remain open for subscription between September 24 and September 26. The price band for the issue has been fixed at Rs 115 to Rs 118 per share.
Retail investors applying in the IPO will be offered a discount of Rs 5 per share.
The centre is diluting 25 per cent stake through the IPO, which will not involve any fresh fund raising.
IDBI Bank and Yes Securities are handling the IPO. Garden Reach’s IPO is the third offering by a state-owned company this fiscal.
In June, the centre had raised Rs 4.6 billion through the IPO of Rites, a firm that operates in transport consultancy and engineering sector. Next week, Ircon International’s Rs 4.7-billion IPO opens for subscription next week.
Retail investors applying in the IPO will be offered a discount of Rs 5 per share.
The centre is diluting 25 per cent stake through the IPO, which will not involve any fresh fund raising.
IDBI Bank and Yes Securities are handling the IPO. Garden Reach’s IPO is the third offering by a state-owned company this fiscal.
In June, the centre had raised Rs 4.6 billion through the IPO of Rites, a firm that operates in transport consultancy and engineering sector. Next week, Ircon International’s Rs 4.7-billion IPO opens for subscription next week.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%