Developer DB Realty Ltd’s $325 million initial public offer was covered nearly 3 times by its close on Tuesday, with strong demand from
institutions compensating for a lack of interest from retail investors.
The IPO was subscribed 2.95 times the shares on offer by 530 p.m. (1200 GMT), National Stock Exchange data showed. Most bids were at the lower end of the 468 to 486 rupees price band.
According to two bankers to the issue, who spoke on condition of anonymity, the retail allotment of the IPO was not covered, attracting bids for only about one-third of the shares on offer. In contrast, institutional buyers applied for 4.7 times the shares available, and high net-worth investors for 4.2 times their allocation.
More : economictimes.indiatimes.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
DB Realty IPO priced at low end of range
DB Realty said on Thursday it will issue shares at the lower end of the Rs 468-to-486 rupee (USD 10.11-USD 10.50) price band for its USD 325 million initial public offer. The offer, which closed on Tuesday, was covered nearly 3 times, with strong demand from institutions compensating for a lack of interest from retail investors. The share sale will amount to 13.18 % of the fully-diluted equity of the company, DB Realty said in a newspaper advertisement. Last week, the company said it would issue shares to six anchor investors at Rs 468 rupees, raising USD 58 million from the deal. DB
Times OOH
Times OOH is a location in Mumbai in India. If you have seen Times OOH then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Times OOH is important to us. Please provide you comment / review / article on Times OOH in Mumbai below.
Times OOH
Times OOH is a location in Mumbai in India. If you have seen Times OOH then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Times OOH is important to us. Please provide you comment / review / article on Times OOH in Mumbai below.
Times Now Mumbai
Times Now Mumbai is a location in Mumbai in India. If you have seen Times Now Mumbai then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Times Now Mumbai is important to us. Please provide you comment / review / article on Times Now Mumbai in Mumbai below.
Times Now Mumbai
Times Now Mumbai is a location in Mumbai in India. If you have seen Times Now Mumbai then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Times Now Mumbai is important to us. Please provide you comment / review / article on Times Now Mumbai in Mumbai below.