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Cochin Shipyard IPO oversubscribed 72 times on last day

LiveMint logoLiveMint 03-08-2017 PTI

New Delhi: The initial share sale of Cochin Shipyard saw robust demand from investors with the offer getting subscribed by 72.49 times on the last day of the bidding on Thursday.

The IPO received bids for over 246 crore shares against total issue size of 3.39 crore (3,39,84,000) shares, data available with the NSE till 1545 hours showed.

Public sector unit Cochin Shipyard aims to raise up to Rs1,468 crore through its share sale offer.

Till close of bidding on Wednesday, the IPO was oversubscribed 3.16 times. The IPO is in a price band of Rs424-432.

SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the book running lead managers to the issue.

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