Garden Reach Shipbuilders IPO fails to impress investors
- Country:
- India
The initial public offer of state-owned Garden Reach Shipbuilders & Engineers was subscribed 1 percent on the first day of bidding Monday.
The public offer of the defense shipbuilder is for 2,92,10,760 shares in a price band of Rs 115-118 per share.
The issue is expected fetch about Rs 345 crore.
The IPO of the Kolkata-based firm received bids for 4,02,720 shares against the total issue size of 2,92,10,760 shares, data available with the NSE showed.
Retail investors portion was subscribed 4 percent.
IDBI Capital Markets & Securities Ltd and YES Securities (India) Ltd are managing the issue.
The shares of the company will be listed on BSE and NSE.
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