Comments
It was a good day for public issues with both NMDC’s 10 per cent divestment and PC Jeweller's IPO getting the thumbs up.
The Government mopped up about Rs 5,900 crore from NMDC sell off at the indicative price of Rs 149.10, slightly higher than the Rs 147 floor price.
Getting bids for about 50 per cent till the last half hour, the issue got overwhelming response towards the close. Against 39.64 crore shares on offer, bids were received for 68.69 crore shares.
In November, the Government managed to divest 4 per cent in Hindustan Copper, raising a little over Rs 800 crore via the offer-for-sale
Similarly, the IPO of PC Jeweller, which plans to raise Rs 609 crore, was subscribed 6.7 times on the last day of the issue today. The issue attracted bids for over 26.07 crore shares against 4.51 crore shares on offer.
While the retail investor portion got subscribed 62 per cent, the qualified institutional buyers portion was subscribed 5.24 times. The company has fixed the price band of IPO at Rs 125-135. The shares are to be listed on the NSE and the BSE.
The Rs 4,500-crore Bharti Infratel issue — the biggest IPO since Coal India — has received bids for 35 per cent only on Day 2. The issue will remain open till Friday.
Credit Analysis and Research’s Rs 540-crore public issue, which closed on Tuesday, was subscribed 41 times. The rating agency’s issue got bids for 24.9 crore equity shares against the 61.19 lakh shares on offer.
badrinarayanan.ks@thehindu.co.in
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.