IPOs of Shree Pushkar and Pennar over-subscribed
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28 Aug 2015
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The initial public offerings (IPOs) of Shree Pushkar Chemicals and Fertilisers and Pennar Engineered Building Systems were over-subscribed on the last day of subscription yesterday, said the media reports. The public offers of Shree Pushkar and Pennar saw an over-subscription of 1.27 times and 1.13 times, respectively. The IPOs of these companies managed to sail through amid volatile secondary markets. Shree Pushkar's IPO received bids for over 1.45 crore shares compared with 1.15 crore equity scrips on offer while the public offer of Pennar got bids for over 71.17 lakh shares as against a total issue size of 62.3 lakh, data available with the NSE showed. Earlier, the Rs 600-crore IPO of Navkar Corporation was subscribed by 2.75 times. Shree Pushkar aims to raise Rs 70 crore by issuing fresh shares as well as an offer for sale (OFS) of 20,26,589 shares. It has set a price band of Rs 61-65 per share. Pennar plans to garner Rs 156 crore through a fresh issue of shares and an OFS by private equity investor Zephyr Peacock and others and has fixed a price band of Rs 170-178 for the IPO. The shares being offered are proposed to be listed on BSE and NSE. |
| Source: Dion Global Type: IPO Related |
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