Supreme Infra IPO subscribed 4.08 times on day 3
Supreme Infra IPO subscribed 4.08 times on day 3
Supreme Infrastructure India`s (SIIL) IPO was subscribed 4.08 times as on Sep. 25, 2007. A 100% bookbuilding IPO had been offered at a price band of Rs 95 to Rs 108. The issue opened on Sep. 21, 2007 and is slated to close on Wednesday (Sep. 26, 2007).
The offer received bids for 14,165,580 shares as against 3,475,000 shares offered, according to the data available on NSE and BSE stock exchanges.
Supreme Infrastructure India is into infrastructure development and primarily engaged in civil construction. Currently, it is engaged in the construction of roads, highways, widening of highways and execution of contracts National Highway Authority of India (NHAI), Mumbai Metropolitan Region Development Authority (MMRDA), etc.
The proceeds of the proposed IPO are to part-finance its expansion plans, mainly for adding capacities in its RMC plants and meeting its long -term capital requirements. SIIL also plans to foray into the construction contracting activity in the real estate projects.
The shares will be listed at the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
The issue is lead managed by Karvy Investor Services and the registrar to the issue is Bigshare Services.
