The story of investors losing in money in IPO never seems to end. This times it's shares of government owned National Buildings Construction Corporation (NBCC) which got listed today. The share price was seen trading at Rs 96.50, against the offer price of Rs 100.70 for retail investors.
Retail investors who have invested were issued at 5% discount to the final price received at Rs 100.70/share, have now made a loss of 5%.
The initial public offering of NBCC received bids for 59,152,260 issued shares against the issue size of 12,000,000 shares. NBCC is into services for civil construction projects; civil infrastructure for power sector; and real estate development.
The company is a debt free company, which was one of the highlights of the issue.
This was the government's last divestment programme to raise Rs 40,000 crore for FY12.