Maytas Infra IPO subscribed nearly 68 times
The initial public offer (IPO) of Infrastructure development firm Maytas Infra got subscribed nearly 67.86 times on the last day of its issue.
By PTI |
MUMBAI: The initial public offer (IPO) of Infrastructure development firm Maytas Infra got subscribed nearly 67.86 times on the last day of its issue.
The IPO received bids for 60.05 crore shares against the 8.85 lakh shares on offer, latest data available on the stock exchange show.
The portion reserved for qualified institution buyers got subscribed 99.40 times and that of non-institutional investors, including corporates, got subscribed 35.84 times.
The portion of the IPO reserved for retail individual investors also attracted sizeable bidders as it got subscribed 15.41 times.
Maytas had fixed the price-band at Rs 320 to Rs 370 a share and expects to raise about Rs 327 crore from the issue.
The company plans to use the proceeds to utilise in different built-operate-transfer (BOT) projects that are under development.
Out of the total proceeds from the issue, the company would use Rs 27.7 crore in the Bangalore-Hosur elevated expressway, Rs 127 crore in the 300 MW coal-based KVK Nilachal power project in Orissa and Rs 34.25 crore in the 56 MW coal washery reject-based SV power plant and 2.5 million MT per annum coal washery at Korba in Chhattisgarh.
It would utilise Rs 33.29 crore for buying construction equipment, while the remaining amount would be kept for other projects and capex purposes.
The IPO received bids for 60.05 crore shares against the 8.85 lakh shares on offer, latest data available on the stock exchange show.
The portion reserved for qualified institution buyers got subscribed 99.40 times and that of non-institutional investors, including corporates, got subscribed 35.84 times.
The portion of the IPO reserved for retail individual investors also attracted sizeable bidders as it got subscribed 15.41 times.
Maytas had fixed the price-band at Rs 320 to Rs 370 a share and expects to raise about Rs 327 crore from the issue.
The company plans to use the proceeds to utilise in different built-operate-transfer (BOT) projects that are under development.
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Out of the total proceeds from the issue, the company would use Rs 27.7 crore in the Bangalore-Hosur elevated expressway, Rs 127 crore in the 300 MW coal-based KVK Nilachal power project in Orissa and Rs 34.25 crore in the 56 MW coal washery reject-based SV power plant and 2.5 million MT per annum coal washery at Korba in Chhattisgarh.
It would utilise Rs 33.29 crore for buying construction equipment, while the remaining amount would be kept for other projects and capex purposes.
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