Stocks

PTC India Financial IPO subscribed 2% on Day-1

PTI Mumbai | Updated on March 16, 2011




The initial public offering of PTC India Financial Services was subscribed two per cent on the first day of the issue today.

The company received bids for 25.23 lakh shares against 13.32 crore shares on offer till 5 p.m., according to data available on the NSE.

These bids account for about two per cent of the total offer size. The IPO closes on March 18.

PTC India Financial Services (PFS) has fixed a price band of Rs 26-Rs 28 for the IPO, which would garner up to Rs 439 crore. Retail individual investors subscribed 24.87 lakh shares.

Non-institutional entities have bid for 35,500 shares.

Earlier in the day, PFS said, it would allot 2.35 crore shares to anchor investors at a price of Rs 28 a piece. This would raise about Rs 66 crore.

PFS, which is part of PTC India, would issue 2.35 crore shares to three anchor investors — HSBC Bank Mauritius Ltd A/c GMFA Asia Venture Ltd, Capital International Emerging Markets Fund and Emerging Markets Growth Fund Inc.

Published on March 16, 2011

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