IPO News
Home >> Markets >> Equity >> News >> IPO News Detailed News
Garden Reach Shipbuilders & Engineers IPO subscribed 1.02 times
(09:16, 02 Oct 2018)

The initial public offer (IPO) of Garden Reach Shipbuilders & Engineers received bids for 2.97 crore shares, as against 2.92 crore shares on offer, as per the National Stock Exchange of India (NSE) website data. The issue was subscribed 1.02 times.

The issue opened for subscription on 24 September 2018. The offer was scheduled to close on 26 September 2018. The company, however, extended the IPO by three days to 1 October 2018 and also revised the price band from Rs 115 to Rs 118 to Rs 114 to Rs 118 per share.

The qualified institutional buyers (QIBs) category was subscribed 1.81 times. The non institutional investors category was subscribed 0.31 times. The retail individual investors (RIIs) category was subscribed 0.24 times.

Garden Reach Shipbuilders & Engineers, a mini ratna (Category-I) PSU from 2006, is a ship builder under the administrative control of Ministry of Defence and caters to the shipbuilding requirement of Indian Navy and Indian Coast Guard. Engineering and engine production services are also offered.

The IPO comprised sale of 2.92 crore shares by the government of India. The minimum bid lot was 120 equity shares and in multiples of 120 equity shares.

The objects of the issue were to carry out the divestment program of the Central government apart from the benefits of listing the equity shares on the BSE and the NSE and to enhance visibility and brand image and provide liquidity to the existing shareholders. The Union government will hold 74.5% of the total paid-up equity share capital post listing.

Garden Reach Shipbuilders & Engineers reported net profit of Rs 86.80 crore on net sales of Rs 1344.62 crore in the year ended March 2018.

Powered by Capital Market - Live News

Adani Ports & Special Economic Zone Ltd     347.30   Down   -2.85 (-0.81%)   Asian Paints Ltd     1,380.05   Down   -13.55 (-0.97%)   Axis Bank Ltd     693.30   Up   6.70 (0.98%)   Bajaj Auto Ltd     2,793.50   Down   -32.45 (-1.15%)   Bajaj Finance Ltd     2,549.45   Down   -11.65 (-0.45%)   Bajaj Finserv Ltd     5,885.15   Down   -140.30 (-2.33%)   Bharat Petroleum Corporation Ltd     327.75   Down   -0.10 (-0.03%)   Bharti Airtel Ltd     302.55   Down   -2.05 (-0.67%)   Bharti Infratel Ltd     317.05   Up   10.15 (3.31%)   Cipla Ltd     541.15   Up   0.60 (0.11%)   Coal India Ltd     215.15   Down   -4.80 (-2.18%)   Dr Reddys Laboratories Ltd     2,565.55   Up   2.20 (0.09%)   Eicher Motors Ltd     20,155.20   Down   -78.90 (-0.39%)   GAIL (India) Ltd     317.45   Down   -0.30 (-0.09%)   Grasim Industries Ltd     699.85   Down   -6.90 (-0.98%)   HCL Technologies Ltd     1,046.30   Down   -10.95 (-1.04%)   HDFC Bank Ltd     2,089.90   Down   -10.75 (-0.51%)   Hero Honda Motors Ltd     2,683.55   Down   -12.90 (-0.48%)   Hindalco Industries Ltd     184.55   Down   -2.05 (-1.10%)   Hindustan Petroleum Corporation Ltd     212.65   Down   -3.70 (-1.71%)   Hindustan Unilever Ltd     1,751.90   Down   -20.90 (-1.18%)   Housing Development Finance Corporation Ltd     1,874.85   Down   -0.05 (0.00%)   ICICI Bank Ltd     338.75   Down   -3.40 (-0.99%)   Indiabulls Housing Finance Ltd     623.50   Down   -15.85 (-2.48%)   Indian Oil Corporation Ltd     124.95   Down   -0.50 (-0.40%)   IndusInd Bank Ltd     1,517.00   Up   7.50 (0.50%)   Infosys Technologies Ltd     741.05   Down   -0.90 (-0.12%)   ITC Ltd     274.70   Down   -5.40 (-1.93%)   JSW Steel Ltd     261.90   Down   -5.00 (-1.87%)   Kotak Mahindra Bank Ltd     1,277.05   Down   -6.60 (-0.51%)   Larsen & Toubro Ltd     1,244.50   Up   1.40 (0.11%)   Mahindra & Mahindra Ltd     624.70   Down   -2.85 (-0.45%)   Maruti Suzuki India Ltd     6,842.70   Down   -87.35 (-1.26%)   NIFTY (S&P CNX)     10,640.95   Down   -83.45 (-0.78%)   NTPC Ltd     137.45   Up   1.20 (0.88%)   Oil & Natural Gas Corpn Ltd     137.10   Up   2.10 (1.56%)   Power Grid Corporation of India Ltd     180.75   Down   -0.75 (-0.41%)   Reliance Industries Ltd     1,220.10   Down   -24.35 (-1.96%)   State Bank of India     259.95   Down   -3.00 (-1.14%)   Sun Pharmaceuticals Industries Ltd     414.65   Down   -8.25 (-1.95%)   Tata Consultancy Services Ltd     1,970.30   Down   -59.40 (-2.93%)   Tata Motors Ltd     162.90   Up   1.25 (0.77%)   Tata Steel Ltd     465.55   Down   -1.95 (-0.42%)   Tech Mahindra Ltd     803.45   Up   3.80 (0.48%)   Titan Company Ltd     1,027.35   Down   -11.65 (-1.12%)   UltraTech Cement Ltd     3,429.25   Down   -10.20 (-0.30%)   UPL Ltd     821.85   Up   3.50 (0.43%)   Vedanta Ltd     148.00   Up   0.70 (0.48%)   Wipro Ltd     375.60   Down   -0.50 (-0.13%)   Yes Bank Ltd     213.55   Down   -5.45 (-2.49%)   Zee Entertainment Enterprises Ltd     438.95   Up   7.60 (1.76%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com