Godrej Industries IPP oversubscribed

The institutional placement programme (IPP) of leading fast moving consumer goods firm Godrej Industries on Tuesday received encouraging response from investors as the share-sale received bids for 26.24 million shares as against a maximum of 17.23 million on offer. The company had set a price band of Rs 210 and Rs 235 per share. A the top end of the price band the company will raise Rs 405 crore.