The initial public offer of Garuda Construction and Engineering got subscribed 4.10 times on the second day of share sale on Wednesday.
The initial share sale received bids for 8,16,77,366 shares against 1,99,04,862 shares on offer, according to data available with the NSE.
The portion meant for Retail Individual Investors (RIIs) got subscribed 6.73 times while the quota for non-institutional investors received 2.58 times subscription.
The category for Qualified Institutional Buyers (QIBs) fetched 91 per cent subscription.
Garuda Construction and Engineering on Monday said it has raised Rs 75 crore from anchor investors.
The company has fixed a price band of Rs 92-95 per share for its Rs 264-crore initial public offering.
The initial share sale will conclude on Thursday.
The IPO is a mix of fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures.
The IPO size has been pegged at Rs 264 crore at the upper end of the pri
Posts in category Business Standard
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INR ends marginally higher; Local equities give up intraday gains (09-10-2024)
The Indian rupee traded in a narrow range and settled for the day higher by just 1 paisa at 83.96 (provisional) against the US dollar on Wednesday, after the Reserve Bank of India kept its key interest rate unchanged and shifted its stance to ‘neutral’ that may lead to a cut in benchmark rates in forthcoming policies. The Reserve Bank of India (RBI) left the repo rate steady at 6.50 percent but opened the door for future rate cuts by changing its policy stance to ‘neutral’ from ‘withdrawal of accommodation’. However, Indian shares gave up early gains to end on a flat note Wednesday as China’s stimulus rally fizzled out, the conflict in the Middle East persisted and investors awaited Federal Reserve meeting minutes as well as U.S. inflation data for interest rate clues. The benchmark S&P/BSE Sensex ended the session down 167.71 points, or 0.21 percent, at 81,467.10 after rising to 82,319.21 in intraday trade. The broader NSE Nifty index hit a high of 25,234.05 earlier before …