Bhagwati Banquets IPO subscribed 1.83 times
Bhagwati Banquets and Hotels is open for subscription with an IPO to raise around Rs 92 crore at the upper end of the price band of Rs 36-40 per share. The proceeds will part-finance setting up of a 100-room five star banquet hotel in Surat, Gujarat.
Public issue has been subscribed fully with 3.36 crore bids against its issue size of 1.84 crore shares and more than 1.92 crore bids at cut off price.
Bhagwati IPO was subscribed 1.83 times, till 5 pm, as per NSE website.
The company will issue 2.3 crore equity shares, of which 1.85 crore equity shares, will be for the public.
At least, 50% of the net issue to the public shall be allotted on a proportionate basis to qualified institutional buyers.
Further, 15% of the net issue shall be available for allocation on a proportionate basis to non-institutional bidders, while 35% of the net issue to the public shall be for allocation on a proportionate basis to retail bidders.
Chartered Capital & Investments is the book running lead manager to the issue
Public issue has been subscribed fully with 3.36 crore bids against its issue size of 1.84 crore shares and more than 1.92 crore bids at cut off price.
Bhagwati IPO was subscribed 1.83 times, till 5 pm, as per NSE website.
The company will issue 2.3 crore equity shares, of which 1.85 crore equity shares, will be for the public.
At least, 50% of the net issue to the public shall be allotted on a proportionate basis to qualified institutional buyers.
Further, 15% of the net issue shall be available for allocation on a proportionate basis to non-institutional bidders, while 35% of the net issue to the public shall be for allocation on a proportionate basis to retail bidders.
Chartered Capital & Investments is the book running lead manager to the issue
posted by rtotla at
8:42 AM
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