Gammon Infra IPO subscribed 1.90 times, Sita Shree 0.24 times
The initial public offer of Gammon Infrastructure Projects was subscribed 1.90 times till 5 pm, as per data available on the NSE website.
By INDIATIMES NEWS NETWORK |
MUMBAI: The initial public offer of Gammon Infrastructure Projects was subscribed 1.90 times till 5 pm, as per data available on the NSE website. The issue has received 3.13 crore bids against 1.65 crore shares on offer in the price band Rs 167-200 per share. Around 4.19 lakh bids were received at the cut off price. The issue comprises 1.49 crore shares to the public and a reservation of 16.55 lakh shares for employees.
The company has offered part-payment facility to retail investors and non-institutional investors. The amount payable on submission of the bid-cum-application form is Rs 50 per equity share, with the balance to be paid by the due date.
Gammon Infra undertakes and develops projects like roads, bridges, ports, hydroelectric power projects on PPP basis. The company to use funds raised through its forthcoming stock offer to help finance the development of the Rangit II hydropower project. The issue closes Thursday.
Meanwhile, the IPO of Sita Shree Food Products received 0.24 times subscription on the first day. The company has set a price band of Rs 27-Rs 30 per share aggregating to Rs 31.50 crore. The issue closes on Friday.
The issue received 28.52 lakh bids. At cut off price 1.20 lakh bids were received.
The company plans to utilize the net proceeds to part finance its Rs 48.12-crore expansion. This includes setting up of a solvent extraction plant having 500 tonne per day capacity, a oil refinery for solvent extraction plant having 100 tpd capacity, a lecithin plant for processing the by products of solvent extraction plant having 5 tpd capacity, and a flour mill of 275 tpd.
The project will be set up at Badiakima, Indore, Madhya Pradesh, just 8 km away from existing location.
The company has offered part-payment facility to retail investors and non-institutional investors. The amount payable on submission of the bid-cum-application form is Rs 50 per equity share, with the balance to be paid by the due date.
Gammon Infra undertakes and develops projects like roads, bridges, ports, hydroelectric power projects on PPP basis. The company to use funds raised through its forthcoming stock offer to help finance the development of the Rangit II hydropower project. The issue closes Thursday.
Meanwhile, the IPO of Sita Shree Food Products received 0.24 times subscription on the first day. The company has set a price band of Rs 27-Rs 30 per share aggregating to Rs 31.50 crore. The issue closes on Friday.
The issue received 28.52 lakh bids. At cut off price 1.20 lakh bids were received.
The company plans to utilize the net proceeds to part finance its Rs 48.12-crore expansion. This includes setting up of a solvent extraction plant having 500 tonne per day capacity, a oil refinery for solvent extraction plant having 100 tpd capacity, a lecithin plant for processing the by products of solvent extraction plant having 5 tpd capacity, and a flour mill of 275 tpd.
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The project will be set up at Badiakima, Indore, Madhya Pradesh, just 8 km away from existing location.
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