IPO od Dinesh Engineers subscribed 5 percent on first day of bidding

The initial public offer of Dinesh Engineers, a passive communication infrastructure provider, was subscribed 5 percent on the first day of bidding Friday.

The initial public offer of Dinesh Engineers, a passive communication infrastructure provider, was subscribed 5 percent on the first day of bidding Friday.

The IPO, to raise Rs 185 crore, received bids for 5,43,600 shares against the total issue size of 10 crore shares, data available with the NSE showed.

Noninstitutional investors portion was subscribed 21 percent and retail investors 6 percent.

The price band for the offer has been set at Rs 183-185 per share.

Hem Securities is the manager to the offer.

Shares of the company are proposed to be listed on BSE and National Stock Exchange.