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Defence shipbuilder Garden Reach Shipbuilders & Engineers initial public offer was subscribed 3 per cent on the second day of bidding on Tuesday.
The IPO of the state-owned firm received bids for 9,49,800 shares against the total issue size of 2,92,10,760 shares, as per NSE data. Retail investors portion was subscribed 9 per cent.
The initial public offer of the Kolkata-based firm is of 29,210,760 shares. The price band for the offer has been set at ₹ 115-118 per share.
The issue is expected fetch about ₹ 345 crore.
IDBI Capital Markets & Securities Ltd and YES Securities (India) Ltd are managing the issue.
The shares of the company will be listed on BSE and NSE.
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