Garden Reach Shipbuilders' stock to open today; IPO fully subscribed
- Country:
- India
Garden Reach Shipbuilders & Engineers, which last week concluded its initial public offer, will make its stock market debut Wednesday.
The company's Rs 345-crore initial public offer ran from September 24-October 1 as the issue closure date was extended.
Also, the price band for the offer was revised from Rs 115-118 per share to Rs 114-118 per share.
The initial public offer was of 2,92,10,760 equity shares and was fully subscribed.
IDBI Capital Markets & Securities and YES Securities were the books running lead managers to the offer.
Garden Reach is a shipbuilding company under the administrative control of the Defence Ministry.
It has also built India's first indigenous warship -- the INS Ajay -- in 1961, as per the company's website.
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