ARSS IPO sees robust response; subscribed 4 times on 3rd day
The initial public offer of ARSS Infrastructure got subscribed 4.21 times on the third day of issue today with most of the bids coming in from institutional investors.
By PTI |
MUMBAI: The initial public offer of ARSS Infrastructure got subscribed 4.21 times on the third day of issue today with most of the bids coming in from institutional investors.
The issue received bids for over 1.05 crore shares against 25.12 lakh shares on offer, thereby garnering a demand of 4.21 times the issue size, as per the data available on the National Stock Exchange.
The company has hit the primary market with an initial public offer (IPO) of 25.12 lakh equity shares in the price band of Rs 410-450 a piece.
The portion reserved for qualified institutional buyers got subscribed 5.86 times, while the non-institutional and retail investor portion was subscribed 1.76 times and 1.70 times of the shares reserved for them respectively.
ARSS Infrastructure Projects is engaged in construction of roads, highways, bridges, irrigation projects.
IDBI Capital Market Services and SBI Capital Markets are the book-running lead managers to the issue.
The issue received bids for over 1.05 crore shares against 25.12 lakh shares on offer, thereby garnering a demand of 4.21 times the issue size, as per the data available on the National Stock Exchange.
The company has hit the primary market with an initial public offer (IPO) of 25.12 lakh equity shares in the price band of Rs 410-450 a piece.
The portion reserved for qualified institutional buyers got subscribed 5.86 times, while the non-institutional and retail investor portion was subscribed 1.76 times and 1.70 times of the shares reserved for them respectively.
ARSS Infrastructure Projects is engaged in construction of roads, highways, bridges, irrigation projects.
IDBI Capital Market Services and SBI Capital Markets are the book-running lead managers to the issue.
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