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Our Bureau

Bangalore , May 23

The IPO of Deccan Aviation has been oversubscribed but the promoters have decided to extend the offer for another three days and reduce the low end of the price band to Rs 146 from Rs 150 to attract more subscription.

The offer was scheduled to close today itself. The Managing Director, Capt G.R. Gopinath, told Business Line that because of the volatility in the market, the promoters have decided to keep the offer open till May 26.

"Our IPO has been oversubscribed. But we will get to know the exact numbers later in the day," he added. Till yesterday, the IPO had received around 11 per cent of applications.

Mr Gopinath had met over 100 fund managers during the company's 15-day road show. He had expressed satisfaction with the response received from the fund managers.

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