Niraj Cements IPO subscribed 17 pc on day 1
The initial public offer of engineering and construction firm Niraj Cements Structurals got subscribed 17 per cent on the first day of its offer today.
By PTI |
MUMBAI: The initial public offer of engineering and construction firm Niraj Cements Structurals got subscribed 17 per cent on the first day of its offer today.
The issue received bids for over 5.52 lakh shares against 32.50 lakh shares on offer, latest data available on the National Stock Exchange show.
The price band of the issue has been fixed between Rs 175- Rs 190. The issue would close on May 30.
The issue comprises a reservation of 3.25 lakh shares for eligible employees and net issue to the public of 29.25 lakh equity shares.
The company would use the issue proceeds to fund its capital equipment requirement, and also meeting working capital needs.
Allbank Finance is acting as the book running lead manager to the issue.
The issue received bids for over 5.52 lakh shares against 32.50 lakh shares on offer, latest data available on the National Stock Exchange show.
The price band of the issue has been fixed between Rs 175- Rs 190. The issue would close on May 30.
The issue comprises a reservation of 3.25 lakh shares for eligible employees and net issue to the public of 29.25 lakh equity shares.
The company would use the issue proceeds to fund its capital equipment requirement, and also meeting working capital needs.
Allbank Finance is acting as the book running lead manager to the issue.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
