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Mumbai, Aug. 9 Real estate company Puravankara Projects Ltd has fixed the issue price of its IPO at Rs 400 per equity share of Rs 5 each. The issue closed on August 8 and was subscribed 1.91 times.

The company had extended its initial public offer subscription period from August 3 up to August 8 and reduced its price band from Rs 500- 525 to Rs 400-450 a share.

The company initially proposed to raise between Rs 1,070 crore and Rs 1,123 crore in the price band of Rs 500-525, but with the issue price of Rs 400 the amount would down at about Rs 856 crore.

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