Simplex IPO subscribed over 33 times
Simplex Projects' initial public offer got subscribed 33.56 times on its last day on Friday.
By PTI |
MUMBAI: Simplex Projects' initial public offer got subscribed 33.56 times on its last day on Friday.
The company received bids for 10.06 crore equity shares against 30 lakh equity shares on offer, data available on the stock exchanges show.
The price band of the issue, which opened on July 10 and closed today, has been fixed at Rs 170-185.
Most of the bids have come from Qualified Institutional Buyers followed by the non-institutional investors.
The portion set for retail investors also received decent response.
Simplex Projects is into construction business, providing integrated engineering, procurement and construction services for civil and structural construction and infrastructure projects.
The company would utilise the IPO proceeds mainly to finance long-term working capital, acquisition of plant and machinery and making investment in subsidiary Simpark Infrastructure Pvt Ltd.
The company received bids for 10.06 crore equity shares against 30 lakh equity shares on offer, data available on the stock exchanges show.
The price band of the issue, which opened on July 10 and closed today, has been fixed at Rs 170-185.
Most of the bids have come from Qualified Institutional Buyers followed by the non-institutional investors.
The portion set for retail investors also received decent response.
Simplex Projects is into construction business, providing integrated engineering, procurement and construction services for civil and structural construction and infrastructure projects.
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The company would utilise the IPO proceeds mainly to finance long-term working capital, acquisition of plant and machinery and making investment in subsidiary Simpark Infrastructure Pvt Ltd.
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