Suryachakra Power IPO fully subscribed

MUMBAI: The initial public offering of Suryachakra Power Corporation Ltd was subscribed 1.02 times on Thursday, a day before the issue closes.

The issue received 3.4 crore bids against the issue size of 3.4 crore shares. Qualified institutional buyers subscribed the issue 1.86 times by bidding for 3.12 crore shares against 1.68 crore bids reserved for them.

There is lack of interest from non-institutional and retail investors. Non-institutional investors bid for just 6,000 shares of 50 lakh shares reserved for them. Retails investors bid for 32,75,700 shares of 1,17,60,000 shares reserved for them.