Prince Pipes and Fittings IPO subscribed 2 times so far on last day of bidding

  • The Rs 500-crore offer received bids for over 4 crore shares against the total issue size of 1.97 crore shares, according to data available with the NSE till 1530 hrs

  • Till Thursday, the initial public offer of Prince Pipes and Fittings was subscribed 74 percent.

  • The IPO, which opened for bidding on Wednesday, is in a price range of Rs 177-178 per share.

New Delhi: The initial public offer of Prince Pipes and Fittings was subscribed 2 times so far on the last day of bidding on Friday.

The Rs 500-crore offer received bids for over 4 crore shares against the total issue size of 1.97 crore shares, according to data available with the NSE till 1530 hrs.

 Prince Pipes and Fittings IPO subscribed 2 times so far on last day of bidding

Representational image. Reuters

Till Thursday, the initial public offer of Prince Pipes and Fittings was subscribed 74 percent.

The IPO, which opened for bidding on Wednesday, is in a price range of Rs 177-178 per share.

The pipes and fittings manufacturer earlier this week mopped up Rs 150 crore from anchor investors.

JM Financial and Edelweiss Financial Services are the managers to the offer.

Prince Pipes has manufacturing facilities in Dadra and Nagar Haveli, Uttarakhand, Maharashtra, Tamil Nadu and Rajasthan.

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Updated Date: Dec 20, 2019 16:38:38 IST