 "Power Mech IPO subscribed 38 times")
The Rs 270 crore-IPO of Power Mech Projects saw 38 times more demand than shares on offer. The nearly 3 million share-offering saw bids for nearly 114 million shares.
The institutional investor category was subscribed 27 times, high networth individual segment saw a whopping 133 times subscription. The category meant for retail investors was subscribed around three times.
Ahead of its IPO, the company had raised Rs 82 crore from anchor investors, which included DSP BlackRock, SBI Mutual Fund and IDFC Mutual Fund. Power Mech had fixed a price band of Rs 615 and Rs 640 per equity share for its IPO.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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