Shankara Building Products to debut on Exchanges on April 5
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.