Birla Cotsyn IPO subscribed 0.69 times
The initial public offering of Birla Cotsyn was subscribed 0.69 times till 5 pm on Tuesday.
By ET Online |
MUMBAI: The initial public offering of Birla Cotsyn was subscribed 0.69 times till 5 pm on Tuesday.
The company has extended the closing date of its Rs 144.18-crore IPO to July 9, and also revised its price band downward to Rs 12-Rs 14 per share from Rs 15-Rs 18 earlier.
The issue received 6,14,97,100 bids, of which around 2,09,25,800 were at the cut off price. The qualified institutional buyers' portion of 3,34,26,667 shares was subscribed 0.01 times, non-institutional investor portion of 1,00,28,000 shares was subscribed 1.40 times, and the retail portion of 2,33,98,667 shares was subscribed 0.72 times. While the employee's portion of 48,33,333 was subscribed 0.02 times.
The IPO proceeds would be utilised to set up an integrated textile unit and a garment manufacturing plant at the facilities located at Khamgaon, Ghatanji and Makkapur in Maharashtra. The investment would also fund the company's foray into retail outlets.
The company has extended the closing date of its Rs 144.18-crore IPO to July 9, and also revised its price band downward to Rs 12-Rs 14 per share from Rs 15-Rs 18 earlier.
The issue received 6,14,97,100 bids, of which around 2,09,25,800 were at the cut off price. The qualified institutional buyers' portion of 3,34,26,667 shares was subscribed 0.01 times, non-institutional investor portion of 1,00,28,000 shares was subscribed 1.40 times, and the retail portion of 2,33,98,667 shares was subscribed 0.72 times. While the employee's portion of 48,33,333 was subscribed 0.02 times.
The IPO proceeds would be utilised to set up an integrated textile unit and a garment manufacturing plant at the facilities located at Khamgaon, Ghatanji and Makkapur in Maharashtra. The investment would also fund the company's foray into retail outlets.
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