Navkar Corporation IPO subscribed 14% on day one
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25 Aug 2015
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The initial public offering (IPO) of logistics company Navkar Corp was subscribed only 14 per cent on the first day of the issue. The IPO received bids for 39.01 lakh shares compared with 2.86 crore equity scrips on offer, translating into a subscription of 14 per cent day, according to data available with the National Stock Exchange (NSE). The bidding for the IPO, which begun today, would conclude on August 26. The price band for the issue has been fixed at Rs 147-155 per share. The company had allotted 1.16 crore equity shares to 15 anchor investors -- Morgan Stanley, Nomura, HDFC MF, SBI MF, Reliance MF, Franklin, IDFC, Sundaram MF, L&T MF, Kotak MF, Prime India, Amundi, Ashbunon India, Abudhabi Investment Authority. The issue is being managed by Axis Capital, SBI Capital Markets and Edelweiss Financial Services. |
| Source: Dion Global Type: IPO Related |
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