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Ircon IPO subscribed over 9 times so far on last day of bidding

19 September, 2018 11:18 AM
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Ircon IPO subscribed over 9 times so far on last day of bidding

Railways engineering and construction firm Ircon International's initial public offer was subscribed over 9 times so far on the last day of bidding Wednesday.

The public offer to raise Rs 470.49 crore received bids for 9,14,24,190 shares against the total issue size of 99,05,157 shares, translating into 9.23 times subscription, data available with the NSE till 1600 hrs showed.

The offer was fully subscribed yesterday. The IPO is of 9,905,157 shares and has been set in a price band of Rs 470-475 per share.

The offer had opened for bidding on Monday. IDBI Capital Markets & Securities Ltd, Axis Capital Ltd and SBI Capital Markets Ltd are managing the issue.

Source: moneycontrol.com

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