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Our Bureau

Mumbai , Dec. 9

THE initial public offering of Bharati Shipyard Ltd has been subscribed 77.8 times.

While the portion allotted to qualified institutional buyers was oversubscribed 22.39 times, non-institutional bidders' share was oversubscribed by 222.47 times. Retail investors bid for 77.07 times more than their share, a news release said here.

Bharati Shipyard entered the capital markets on December 2 with a public issue of 1.25 crore equity shares of face value Rs 10 each at a price band of Rs 55-66 per share through the book building process.

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