Simplex Projects IPO subscribed 3.03 times; closes Friday
The initial public offering of Simplex Projects Ltd was subscribed 3.03 times till 7:45PM on Wednesday.
By INDIATIMES NEWS NETWORK |
MUMBAI: The initial public offering of Simplex Projects Ltd was subscribed 3.03 times till 7:45PM on Wednesday.
The company entered the capital markets Tuesday with an initial public offering of 30 lakh equity shares through 100% book building process. The Rs 10 share is being offered in the price range Rs 170-185. The issue closes on Friday.
The issue received 90.84 lakh bids against the issue size of 30 lakh shares. Around 18.38 lakh bids were made at the cut-off price.
Qualified institutional buyers have subscribed their portion 4.3 times, with bids for 65.99 lakh shares against 15 lakh shares reserved for them.
Non-institutional investors bid for 5.50 lakh shares against 4.5 lakh shares on offer—a subscription of 1.22 times.
Individual investors have subscribed their portion 1.84 times. The retail portion received 19.34 lakh bids against 10.50 lakh shares allocated.
Simplex Projects is into construction business, providing integrated engineering, procurement and construction services for civil and structural construction and infrastructure projects.
The IPO proceeds are mainly for long term working capital, acquire plant and machinery, and invest in subsidiary Simpark Infrastructure Pvt Ltd.
UTI Bank is the book running lead manager to the issue.
The company entered the capital markets Tuesday with an initial public offering of 30 lakh equity shares through 100% book building process. The Rs 10 share is being offered in the price range Rs 170-185. The issue closes on Friday.
The issue received 90.84 lakh bids against the issue size of 30 lakh shares. Around 18.38 lakh bids were made at the cut-off price.
Qualified institutional buyers have subscribed their portion 4.3 times, with bids for 65.99 lakh shares against 15 lakh shares reserved for them.
Non-institutional investors bid for 5.50 lakh shares against 4.5 lakh shares on offer—a subscription of 1.22 times.
Individual investors have subscribed their portion 1.84 times. The retail portion received 19.34 lakh bids against 10.50 lakh shares allocated.
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Simplex Projects is into construction business, providing integrated engineering, procurement and construction services for civil and structural construction and infrastructure projects.
The IPO proceeds are mainly for long term working capital, acquire plant and machinery, and invest in subsidiary Simpark Infrastructure Pvt Ltd.
UTI Bank is the book running lead manager to the issue.
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