Maytas Infra, a construction and infrastructure development company, will close today. The issue has subscribed 5.73 times on the back of good support from qualified institutional investors (QIBs), whose portion subscribed 9.35 times, according to data available on NSE.
The reserved portion of non institutional and retail investors remains unsubscribed. Bids for 5.06 crore shares have received, including bids for 8.86 lakh shares at cut off price.
The issue had opened for subscription on September 27, 2007 with an initial public offering of 88.5 lakh equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book building process.
The company has fixed the price band between Rs 320 and Rs 370 per equity share.
The company plans to use the funds to purchase construction equipment, invest in companies, building an elevated road in Bangalore, a coal based electricity generation plant in East Orissa and a coal washery in Chhattisgarh.
DSP Merrill Lynch Ltd, JM Financial Consultants Pvt Ltd and Kotak Mahindra Capital Co Ltd are the book running lead managers and Karvy Computershare Pvt Ltd is the registrar to the issue.
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