Ircon International IPO fully subscribed on Day 2
- Country:
- India
The initial public offer of railways engineering and construction firm Ircon International was subscribed 1 time on the second day of bidding Tuesday.
The Rs 470.49-crore IPO received bids for 1,01,10,000 shares against the total issue size of 99,05,157 shares, as per NSE data.
The category set aside for qualified institutional buyers (QIBs) was subscribed 1 percent, noninstitutional investors 19 percent and retail investors 2.96 times, the exchange data showed.
The public offer which opened yesterday would close tomorrow. The price band has been set at Rs 470-475 per share.
The IPO is of 9,905,157 shares and at the upper end of the price band, the offer would raise about Rs 470.49 crore.
IDBI Capital Markets & Securities Ltd, Axis Capital Ltd, SBI Capital Markets Ltd are managing the issue.
The shares of the company will be listed on BSE and NSE.
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