MUMBAI: The initial public offer of Gammon Infrastructure Projects was subscribed 0.75 times at end of the second day of the issue Tuesday. The issue closes on Thursday.
On the other hand, the IPO of Sita Shree Food Products hardly received any subscription on the first day.
Gammon Infrastructure’s 1,65,50,000 shares (of Rs 10 each) on offer are priced Rs 167-200 per share. The issue comprises 1.49 crore shares to the public and a reservation of 16.55 lakh shares for employees.
Non-institutional investor portion of 14,89,500 shares, or 10 per cent allocated to them, was subscribed 2.73 times. The 60 per cent, or 89,37,000 shares, allocated to qualified institutional buyers, was subscribed 0.92 times.
However, the retail portion was subscribed 0.01 times of the 30 per cent of total offer. The employees’ portion was subscribed 0.02 times.
The company has offered part-payment facility to retail investors and non-institutional investors. The amount payable on submission of the bid-cum-application form is Rs 50 per equity share, with the balance to be paid by the due date.
Gammon Infra undertakes and develops projects like roads, bridges, ports, hydroelectric power projects on PPP basis. The company to use funds raised through its forthcoming stock offer to help finance the development of the Rangit II hydropower project.
The IPO of Sita Shree Food Products hardly received any subscription on the first day. The company has set a price band of Rs 27-Rs 30 per share aggregating to Rs 31.50 crore. The issue closes on Friday.
The company plans to utilize the net proceeds to part finance its Rs 48.12-crore expansion. This includes setting up of a solvent extraction plant having 500 tonne per day capacity, a oil refinery for solvent extraction plant having 100 tpd capacity, a lecithin plant for processing the by products of solvent extraction plant having 5 tpd capacity, and a flour mill of 275 tpd.
The project will be set up at Badiakima, Indore, Madhya Pradesh, just 8 km away from existing location.
On the other hand, the IPO of Sita Shree Food Products hardly received any subscription on the first day.
Gammon Infrastructure’s 1,65,50,000 shares (of Rs 10 each) on offer are priced Rs 167-200 per share. The issue comprises 1.49 crore shares to the public and a reservation of 16.55 lakh shares for employees.
Non-institutional investor portion of 14,89,500 shares, or 10 per cent allocated to them, was subscribed 2.73 times. The 60 per cent, or 89,37,000 shares, allocated to qualified institutional buyers, was subscribed 0.92 times.
However, the retail portion was subscribed 0.01 times of the 30 per cent of total offer. The employees’ portion was subscribed 0.02 times.
The company has offered part-payment facility to retail investors and non-institutional investors. The amount payable on submission of the bid-cum-application form is Rs 50 per equity share, with the balance to be paid by the due date.
Gammon Infra undertakes and develops projects like roads, bridges, ports, hydroelectric power projects on PPP basis. The company to use funds raised through its forthcoming stock offer to help finance the development of the Rangit II hydropower project.
The IPO of Sita Shree Food Products hardly received any subscription on the first day. The company has set a price band of Rs 27-Rs 30 per share aggregating to Rs 31.50 crore. The issue closes on Friday.
The company plans to utilize the net proceeds to part finance its Rs 48.12-crore expansion. This includes setting up of a solvent extraction plant having 500 tonne per day capacity, a oil refinery for solvent extraction plant having 100 tpd capacity, a lecithin plant for processing the by products of solvent extraction plant having 5 tpd capacity, and a flour mill of 275 tpd.
The project will be set up at Badiakima, Indore, Madhya Pradesh, just 8 km away from existing location.
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