Receives bids for 60.88 lakh shares
The initial public offer (IPO) of Karda Constructions received bids for 60.88 lakh shares on the third day of bidding today, 20 March 2018, as per the National Stock Exchange of India (NSE) website data at 17:30 IST. The issue was subscribed 1.42 times. The price band for the issue is Rs 175 to Rs 180 per share. The issue closes on Wednesday, 21 March 2018.
The issue comprises fresh issue of 23 lakh equity shares as well as offer for sale (OFS) by the promoters.
The company intends to utilize the proceeds from fresh issue towards part repayment of overdraft facilities, part repayment of term loans, general corporate purpose and to meet issue related expenses.
Karda Constructions reported a net profit of Rs 5.52 crore on sales of Rs 40.35 crore in the six months ended September 2017.
Karda Constrictions, promoted by Naresh Karda, is engaged in the business of real estate development in the city of Nashik, Maharashtra.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
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