New Delhi, Aug 3:
Cochin Shipyard IPO oversubscribed 72 times so far on last day
The initial share sale of Cochin Shipyard saw robust demand from investors with the offer getting oversubscribed by 72.49 times on the last day of the bidding today.
The IPO received bids for over 246 crore shares against total issue size of 3.39 crore (3,39,84,000) shares, data available with the NSE till 1545 hours showed. The IPO is in a price band of Rs 424–432.
The public sector unit, Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer. Till close of bidding yesterday, the IPO was oversubscribed 3.16 times.
SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the book running lead managers to the issue.
(This article was published on August 3, 2017)
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