Shankara Building Products to list on Wednesday
DSIJ Intelligence / 04 Apr 2017
Shankara Building Products, which recently came with an IPO to raise Rs 350 crore, will be listed on the bourses on April 5.
Shankara Building Products, which recently came with an IPO to raise Rs 350 crore, will be listed on the bourses on April 5.
The company’s IPO comprised fresh issue of shares worth Rs 45 crore and an offer for sale of little over 65 lakh shares. The price band of the IPO was fixed at Rs 440-460 per share.
Shankara Building Products’ IPO was oversubscribed 41.6 times during the bidding period of March 22-24. The company’s public issue for qualified institutional buyers (QIBs) was oversubscribed 51.62 times, while the non-institutional investor category was oversubscribed 90.68 times. The retail investor category was oversubscribed 15.35 times.
IDFC Bank, Equirus Capital and HDFC Bank were book running lead managers to the offer.
Shankara Building Products operates 103 stores spread across nine states and one Union territory. It also provides customised solutions to enterprise customers through bespoke steel products, which is backward integrated through its own processing facilities in select building products.
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