Shankara Building Products Limited IPO to close for subscription today

The Initial Public Offering (IPO) of Shankara Building Products Limited which opened for subscription on 22-Mar-2017 will close for subscription today - Friday, 24-Mar-2017.

The company has come out with an Initial Public offer of Fresh issue of Upto Rs 450 Million and offer for sale Upto 6,521,740 Equity Shares (including anchor portion of 2,250,000 Equity Shares). The issue is priced at a price band of Rs 440 to Rs 460.

The IPO has already garnered subscription fo 2.49 times till 5 PM on March 23, 2017. The issue has received subscription for 13188736 equity shares against the offer of 5294467 equity shares.

The Retail Individual Investors (RIIs) of the issue has received maximum subscription for 11485184 equity shares against the offer of 2640564 equity shares resulting in a subscription of 4.35 times.

The Non Institutional Investors portion of the issue has received subscription of 0.49 times with applications for 558688 equity shares against the offer of 1131671 equity shares.

The Qualified Institutional Buyers (QIBs) portion of the IPO has garnered subscription for 1144864 equity shares against the offer of 1522232 equity shares resulting in a subscription of 0.75 times.

IDFC Bank Limited, Equirus Capital Private Limited and HDFC Bank Limited are the Book Running Lead Managers to the issue. Equirus Securities Private Limited, HDFC Securities Limited and Sharekhan Limited are the Syndicate Members to the IPO.

Karvy Computershare Private Limited is the registrar to the company.

Source : Equity Bulls

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