SBP's IPO over subscribed 41 times

SBP's IPO over subscribed 41 times

Shankara Building Products’ (SBP’s) initial public offering (IPO) has subscribed over 41 times on the last day of the issue.

Shankara also became the first IPO sized less than Rs 400 crore in FY17 to attract over a million applications.

The non-institutional portion was subscribed over 91 times at the upper end of the price band and nearly 91 times at the lower end of the price band.  As far as qualified institutional buyers (QIB) portion is concerned, it was subscribed over 52 times at the upper end of the price band and over 51.5 times at the lower end of the price band. The retail portion was subscribed over 14 times overall.

The company had fixed a price band of Rs 440 to Rs 460 per share for its initial public offering which opened on March 22 and closed on March 24.

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