Gammon Infra IPO subscribed 3.20 times
The initial public offer of Gammon Infrastructure Projects was subscribed 3.20 times till 3 pm as per the data available on the NSE. The issue closes on Thursday.
By INDIATIMES NEWS NETWORK |
MUMBAI: The initial public offer of Gammon Infrastructure Projects was subscribed 3.20 times till 3 pm as per the data available on the NSE. The issue closes on Thursday.
The issue has received 5.29 crore bids against 1.65 crore shares on offer in the price band Rs 167-200 per share. Around 19.87 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 plans to use funds raised through its forthcoming stock offer to help finance the development of the Rangit II hydropower project.
The issue has received 5.29 crore bids against 1.65 crore shares on offer in the price band Rs 167-200 per share. Around 19.87 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 plans to use funds raised through its forthcoming stock offer to help finance the development of the Rangit II hydropower project.
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