BVCL IPO subscribed fully on day 2
Initial public offer of Cement manufacturer, Barak Valley Cements Ltd (BVCL), today got subscribed fully on its second day of issue.
By PTI |
MUMBAI: Initial public offer of Cement manufacturer, Barak Valley Cements Ltd (BVCL), today got subscribed fully on its second day of issue.
The IPO received bids for 99.80 lakh shares as against the 56.60 lakh equity shares on offer, data available on the stock exchanges show.
The company has fixed the price band of Rs 37 to Rs 42 for the issue which will close on November 1.
The issue received good response from FIIs with the portion reserved for the Qualified Institutional Buyers getting subscribed over two times. While the portion reserved for retail investors got nearly fully subscribed.
The funds raised through IPO would be invested in expanding the clinkerisation capacity of the plant from present 420 TPD (tonnes per day) to 600 TPD, cement grinding capacity from 460 TPD to 750 TPD, the company informed.
The IPO received bids for 99.80 lakh shares as against the 56.60 lakh equity shares on offer, data available on the stock exchanges show.
The company has fixed the price band of Rs 37 to Rs 42 for the issue which will close on November 1.
The issue received good response from FIIs with the portion reserved for the Qualified Institutional Buyers getting subscribed over two times. While the portion reserved for retail investors got nearly fully subscribed.
The funds raised through IPO would be invested in expanding the clinkerisation capacity of the plant from present 420 TPD (tonnes per day) to 600 TPD, cement grinding capacity from 460 TPD to 750 TPD, the company informed.
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