In view of the weak response the IPO of state-owned Garden Reach Shipbuilders & Engineers garnered, its IPO offer for subscription has been extended until October 1. Also, the price band has been revised to Rs 114-118 per equity share.
As per the data available with the NSE, as on 5 pm, the issue received just 67% subscription.
The issue was to previously close on Wednesday i.e. September 26, 2018.
The original price band for the share sale was Rs 115-118 apiece. The IPO received bids for 1,97,15,760 shares against the total issue size of 2,92,10,760 shares, the NSE data till 1700 hours showed.
Qualified Institutional Buyers (QIBs) portion has already been subscribed 1.22 times till Wednesday, while the quota for retail investors received 22 per cent subscription, as per data available with NSE.
IDBI Capital Markets & Securities and YES Securities are managing the issue.
Garden Reach is a ship building company under the administrative control of the Defence Ministry.
With PTI Inputs