/ Shankara Building Products To Debut On Exchanges On April 5 ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 3 April 2017

Shankara Building Products will list its shares on the stock exchanges on April 5, as the company recently concluded its Rs 350-crore initial public offer.

The IPO was subscribed 41.60 times from March 22 to March 24. The price band was fixed at Rs 440-460 per share. The portion set aside for qualified institutional buyers (QIBs) was subscribed 51.62 times while that for the non-institutional investor segment was 90.68 times. The retail investor category witnessed a subscription of 15.35 times.

The IPO comprised fresh issue of shares worth Rs 45 crore, and an offer for sale pertaining to a little over 65 lakh shares. The Bengaluru-based company is an organised retailer of home improvement and building products in India. IDFC Bank, Equirus Capital and HDFC Bank were book running lead managers to the offer.

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