Mumbai, Dec 10 : The initial public offer of GodrejProperties Ltd (GPL) got subscribed 1.28 times on the secondday of issue today, with most of the bids coming fromqualified institutional investors.
In an almost flat market, the IPO of Mumbai-based realtorreceived bids for over 98.95 lakh shares against 77.32 lakhequities on offer for public, latest data with the National Stock Exchange (NSE) showed.
In the qualified institutional buyers portion, the IPOgot subscribed 2.42 times, with bids for over 96 lakh sharesagainst 39.60 lakh equities reserved for them.
Godrej Properties has entered the capital market with atotal issue size of 94.29 lakh equity shares, which includesanchor investor portion of 16.97 lakh shares, in the pricerange of Rs 490-530 per piece.
Godrej Properties expects to garner up to Rs 499.77 croreat the upper end of the IPO price band.
The IPO, which opened on December 9, closes tomorrow.
The IPO proceeds would be utilised for acquiring land,construction of projects and repayment of loans.
The company currently focuses on residential, commercialand township developments.
The secondary market barometer Sensex today finished theday at 17,189.31, a gain of 64.09 points or 0.37 per cent overits previous close.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment