New Delhi, Sep 8 (PTI) The initial public offering (IPO) of real estate developer Pranav Constructions Ltd received 18.20 times subscription on the second day of share sale on Tuesday.
The company’s IPO received bids for 40,87,63,680 shares against 2,24,63,137 shares on offer, according to NSE data.
The portion for non-institutional investors got subscribed 43.75 times. The quota for retail investors received 15.75 times subscription and that of Qualified Institutional Buyers (QIBs) 1 times.
The IPO of Pranav Constructions Ltd got fully subscribed on the first day of bidding on Monday and ended with 5.69 times subscription.
Pranav Constructions Ltd on Friday raised Rs 84.24 crore from anchor investors.
It has fixed a price band of Rs 118-124 per
share for its over Rs 351-crore IPO. The issue will close on September 9.
The IPO comprises a fresh issue worth Rs 315.6 crore and an offer for sale (OFS) of 28.5 lakh equity shares worth Rs 35.43 crore by investor shareholder BioUrja India Infra.
Pranav Constructions is a real estate developer focused on the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai’s western suburbs. PTI SUM TRB
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