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Ircon International IPO Subscribed 0.29 Times
Retail investors show most demand for Ircon IPO.
17 Sep 2018, 10:32 PM IST 
Trains sit at Lokmanya Tilak Terminus (LTT) in the Kurla suburb of Mumbai, India, (Photographer: Dhiraj Singh/Bloomberg)
The initial public offer of railways engineering and construction firm Ircon International was subscribed 0.29 times on the first day of bidding Monday.
The Rs 470.49-crore offer received bids for 28.9 lakh shares against the total issue size of 99.05 lakh shares, data available with the NSE showed. Non-institutional investors segment was subscribed 0.4 times and retail investors 0.86 times.
The issue, which would close on Wednesday, has been set in a price band of Rs 470-475 per share. IDBI Capital Markets & Securities Ltd, Axis Capital Ltd and SBI Capital Markets Ltd are managing the offer.
The shares of the company will be listed on BSE and NSE.
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