The initial public offer of state-owned Garden Reach Shipbuilders & Engineers was subscribed 1.02 times on the last day of bidding on October 1. The Rs 345-crore IPO received bids for 2,97,58,920 shares against the total issue size of 2,92,10,760 shares, data available with the NSE till 1700 hrs showed.
Qualified institutional buyers (QIBs) portion was subscribed 1.81 times, non-institutional investors 31 percent and retail investors 24 percent.
"BRLM (book running lead managers) to the Garden Reach Shipbuilders & Engineers Limited issue, has informed the exchange that the issue closure date has been extended up to 01 October,2018. Price band has been revised from Rs 115-118 to Rs 114-118 per share," according to an update on NSE made last week.
The earlier issue closure date was September 26.
IDBI Capital Markets & Securities Limited and YES Securities (India) Limited are the managers to the issue.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
