{"id":91933,"date":"2018-09-28T20:17:15","date_gmt":"2018-09-28T20:17:15","guid":{"rendered":"http:\/\/www.bnreport.com\/garden-reach-shipbuilders-ipo-fully-subscribed\/"},"modified":"2018-09-28T20:17:15","modified_gmt":"2018-09-28T20:17:15","slug":"garden-reach-shipbuilders-ipo-fully-subscribed","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/garden-reach-shipbuilders-ipo-fully-subscribed\/","title":{"rendered":"Garden Reach Shipbuilders IPO fully subscribed"},"content":{"rendered":"

New Delhi: The initial public offer of state-owned Garden Reach<\/a> Shipbuilders & Engineers was fully subscribed on Friday. <\/p>\n

The Rs 345-crore IPO<\/a> received bids for 2,95,85,400 shares<\/a> against the total issue size of 2,92,10,760 shares, reflecting 1.01 times subscription, data available with the NSE showed. <\/p>\n

The category reserved for qualified institutional buyers (QIBs) was subscribed 1.81 times, non-institutional investors<\/a> 30 per cent and retail investors 23 per cent. <\/p>\n

"The BRLM (Book Running Lead Managers) to the Garden Reach Shipbuilders & Engineers Limited issue has informed the exchange that the issue closure date has been extended up to 1 October, 2018. Price band has been revised from Rs 115-118 to Rs 114-118 per share," said an update on NSE. <\/p>\n

The earlier issue closure date was September 26. <\/p>\n

IDBI Capital Markets & Securities Limited and YES Securities (India) Limited are managing the issue. <\/p>\n

Garden Reach is a ship building company under the administrative control of the Defence Ministry. <\/p>\n

It had built India's first indigenous warship \u2014 the INS Ajay \u2014 in 1961, according to the company's website. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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