Ircon International IPO Fully Subscribed On Day 2
The Rs 470-crore initial public offer of railways engineering and construction firm Ircon International was fully subscribed on the second day of bidding today.
The IPO received bids for 1.01 crore shares against the total issue size of 99 lakh shares, as per data on the National Stock Exchange. The category set aside for qualified institutional buyers was subscribed 0.1 times, non-institutional investors 0.19 times and retail investors 2.96 times.
The public offer which opened yesterday would close tomorrow. The price band has been set at Rs 470-475 per share. IDBI Capital Markets & Securities Ltd, Axis Capital Ltd, SBI Capital Markets Ltd are managing the issue.
The shares of the company will be listed on BSE and NSE.