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Our Bureau

Mumbai, June 28 The initial public offering of Housing Development and Infrastructure Company Ltd was subscribed 0.26 times on its opening day.

According to data available on the NSE at 5 p.m., a total of 76,91,376 bids were received against the issue size of 2,97,00,000 shares while 1,57,458 bids were received at the cut-off price. Most bids were received at the lower end of the price band of Rs 430-Rs 500.

The Qualified Institutional Buyers (QIBs) portion was subscribed 0.38 times while the Retail Individual Investors (RIIs) portion was subscribed 0.020 times.

Kotak Mahindra Capital Company Ltd and Enam Financial Consultants Pvt Ltd are the book running lead managers to the issue.

The follow on issue of Bharat Earth Movers Ltd was subscribed 1.16 times on its second day. 57,06,770 bids were received against the issue size of 49,00,000 shares and 1,19,790 bids were received at the cut off price. Maximum number of bids were received at the lower end of the price band of Rs 1,020-Rs 1,090.

The QIB portion was subscribed 2.53 times and the RII portion was subscribed 0.087 times.

ICICI Securities Primary Dealership Ltd is the book running lead manager to the issue.

Suryachakra Power Corporation Ltd’s initial public offering was subscribed 1.02 times on its third day. A total of 34582500 bids were received against the issue size of 34000000 shares and 2813700 bids were received at the cut off price.

Bids were received across the price band of Rs 17-Rs 20.

SREI Capital Markets Ltd is the book running lead manager to the issue.

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