Buoyed by strong support from both institutional as well as non-institutional investors, the initial public offer (IPO) from Man Infraconstruction subscribed 6.87 times at the end of the second day today.
The public issue received total bids for 3.1 crore shares against 46.53 lakh stocks on offer, thereby getting subscribed 6.87 times, as per the data available with the National Stock Exchange (NSE).
Man Infra has entered the capital markets with an issue size of 56.25 lakh shares in the price band of Rs 243-252, expecting to mop up Rs 141.75 crore at the upper price band.
At the end of the first day, the IPO got subscribed over 9 times in non-institutional investor category, while in that of QIB the issue was subscribed 11.6 times.
IDFC-SSKI and Edelweiss Capital are the book-running lead managers to the issue. The IPO closes on February 22.
Man Infraconstruction provides construction services for port, residential, industrial, commercial and road infrastructure projects.
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