Globe Civil Projects IPO Oversubscribed
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Globe Civil Projects IPO was subscribed 15.26 times on day 2. Non-institutional investors showed strong interest with 21.31 times subscription.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jun 25 (PTI) Civil construction and infrastructure development company Globe Civil Projects' initial public offer received 15.26 times subscription on the second day of bidding on Wednesday.
The Rs 119-crore IPO received bids for 17,90,07,336 shares against 1,17,32,392 shares on offer, as per NSE data.
The portion for non-institutional investors garnered 21.31 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 16.72 times. The category for Qualified Institutional Buyers (QIBs) fetched 8.15 times subscription.
The initial share sale of Globe Civil Projects was fully subscribed on the first day of bidding on Tuesday.
The Initial Public Offer (IPO) of up to 1,67,60,560 equity shares has a price range of Rs 67-71 per share.
Its shares will be listed on the BSE and NSE.
Globe Civil Projects Ltd intends to utilise Rs 75 crore of the IPO proceeds for funding working capital requirements, Rs 14.26 crore for capital expenditure towards the purchase of construction equipment/machinery and the remaining funds will be used for general corporate purposes and issue expenses, according to a company statement.
The Rs 119-crore IPO received bids for 17,90,07,336 shares against 1,17,32,392 shares on offer, as per NSE data.
The portion for non-institutional investors garnered 21.31 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 16.72 times. The category for Qualified Institutional Buyers (QIBs) fetched 8.15 times subscription.
The initial share sale of Globe Civil Projects was fully subscribed on the first day of bidding on Tuesday.
The Initial Public Offer (IPO) of up to 1,67,60,560 equity shares has a price range of Rs 67-71 per share.
Its shares will be listed on the BSE and NSE.
Globe Civil Projects Ltd intends to utilise Rs 75 crore of the IPO proceeds for funding working capital requirements, Rs 14.26 crore for capital expenditure towards the purchase of construction equipment/machinery and the remaining funds will be used for general corporate purposes and issue expenses, according to a company statement.
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