Gammon Infrastructure fixes issue price at Rs 167

Posted by admin

March 18, 2008

Gammon Infrastructure Projects (GIPL), an infrastructure project development company promoted by the 85-year old Gammon Group, has fixed the issue price at Rs 167 for its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each for the above issue price determined through the 100% book building process.

The issue closed on March 13, 2008, and was subscribed 3.48 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed approximately 5.17 times; the non-institutional bidders portion was subscribed approximately 3.79 times; the retail portion was subscribed approximately 1.07 times; employee reservation portion was subscribed approximately 0.53 times.

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