The Hindu Business Line : IBP public offer subscribed 75 pc of issue size

AFTER languishing for the first three days, the public offer of IBP received strong response from the investing community on Thursday with the issue being subscribed almost 75 per cent of the offer size.

The issue of Dredging Corporation also received good response from the investors on the first day as the issue received bids for over 32 per cent of the offer size.

IBP issue received bids for around 43.18 lakh shares compared with the issue size of 57.58 lakh shares. The maximum bids received were at the floor price of Rs 620 per share.

The offer of Dredging Corporation issue received bids for 18.06 lakh shares compared with the issue size of 56 lakh shares. The maximum bids received were at Rs 400 compared with the floor price of Rs 385.

The other two issues - IPCL and CMC, which are open, have already been sold. The issue of GAIL opens for subscription on Friday.

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