SVEC Constructions IPO bogged even as GSS opens
The two initial public offerings currently on may meet the same fate as their predecessors Wockhardt Hospitals and Emaar MGF Land.
By INDIATIMES NEWS NETWORK |
MUMBAI: The two initial public offerings currently on may meet the same fate as their predecessors Wockhardt Hospitals and Emaar MGF Land.
Add to their woes the poor showing of Reliance Power on its debut Monday.
SVEC Constructions continued to be bogged by poor subscription numbers even as GSS America Infotech opened to try its luck with investors today.
Latest NSE data showed SVEC Constructions was subscribed 0.24 times.
Till 4 pm, the issue had received bids for just 9 lakh shares against 40 lakh on offer, or 23 per cent of the issue. At the cut off price it had received 6 lakh bids.
The IPO opened on Feb 4 and was to close on Feb 8. But after the withdrawal of Wockhardt Hospitals and Emaar MGF, the company was forced to lower the price band to Rs 80-90 from Rs 85-95 earlier and extend the closing date. The issue closes on Feb 13.
Meanwhile, GSS America issue has so far been subscribed 0.07 times.
At 4 pm, the issue of 34.97 lakh shares of Rs 10 had received 2.27 lakh bids. Around 225 bids were received at the cut off price. The price band has been fixed at Rs 400-440 per share. The issue closes on Feb 15.
Add to their woes the poor showing of Reliance Power on its debut Monday.
SVEC Constructions continued to be bogged by poor subscription numbers even as GSS America Infotech opened to try its luck with investors today.
Latest NSE data showed SVEC Constructions was subscribed 0.24 times.
Till 4 pm, the issue had received bids for just 9 lakh shares against 40 lakh on offer, or 23 per cent of the issue. At the cut off price it had received 6 lakh bids.
The IPO opened on Feb 4 and was to close on Feb 8. But after the withdrawal of Wockhardt Hospitals and Emaar MGF, the company was forced to lower the price band to Rs 80-90 from Rs 85-95 earlier and extend the closing date. The issue closes on Feb 13.
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Meanwhile, GSS America issue has so far been subscribed 0.07 times.
At 4 pm, the issue of 34.97 lakh shares of Rs 10 had received 2.27 lakh bids. Around 225 bids were received at the cut off price. The price band has been fixed at Rs 400-440 per share. The issue closes on Feb 15.
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