IVRCL Infrastructures subsidiary IVR Prime Urban Developers Ltd fixes price band for IPO

IVRCL Infrastructures & Projects Ltd has announced that the Board of Directors of the Company's subsidiary, IVR Prime Urban Developers Ltd, has informed the Company that it is making an Initial Public Offer of 14,150,000 equity shares of Rs 10/- each for cash with a price band of Rs 510/- to Rs 600/-.

The Company is intimate to the public that it holds 40.00 million equity shares of Rs 10/- each which is 80% of the pre-IPO share capital of IVR Prime Urban Developers Ltd, which gets diluted to 62.354% on account of the captioned IPO of 14.15 million shares.

The stock was trading at Rs.418.50, down by Rs.4.95 or 1.17%. The stock hit an intraday high of Rs.444.80 and low of Rs.415.10. The total traded quantity was 528502 compared to 2 week average of 586794.

Source : Equity Bulls

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