Vishnu Prakash IPO subscribed 87.8 times

Mumbai: The ₹309- crore initial public offering of Jodhpur-based Vishnu Prakash R Punglia, an engineering, procurement and construction company, was subscribed 87.8 times on the final day of bidding, Monday. The issue received bids of 192.55 crore shares against the offered 2.19 crore equity shares.

The qualified institutional buyer portion was subscribed 172 times, while the non-institutional investors portion was bided 111 times. Retail investors saw a bidding of 32 times the shares reserved for them.

The issues, which opened on August 24 for the public subscription, was priced in a band of ₹94-99. Choice Capital Advisors and Pantomath Capital were the book-running lead managers for the issue.