Markets

IPO: Prince Pipes gets 74% on Day 2

Chennai | Updated on December 19, 2019 Published on December 19, 2019

 

The initial public offerings of Prince Pipes and Fittings has been subscribed 0.74 times on day 2 of bidding on Thursday. The portion reserved for retail buyers was subscribed 1.06 times, non-institutional buyers 0.06 times and qualified institutional buyers by 0.69 times. The IPO received bids for 1.45 crore shares as against the total issue size of 1.966 crotr shares. The price band of the issue is ₹177-178 a share. The ₹500-crore issue comprises fresh issue of equity shares aggregating up to ₹250 crore and an offer-for-sale (OFS) of ₹250 crore. The IPO closes on Friday. Ahead of the IPO, Prince Pipes had raised ₹150 crore from eight anchor investors, including SBI Oman, Aditya Birla MF and SBI Life Insurance. Our Bureau

Published on December 19, 2019
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