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NBCC IPO manages close to 5 times subscription

NBCC IPO, which closed for subscription today, has managed to garner 4.93 times overall subscription, riding mainly on the back of respectable support from the QIB Investors, the category being oversubscribed 7.07 times.

The response from the Retail Category came at 3.40 times the shares reserved for the category, which may have been blossomed to some extent on account of the 5% Discount announcement on the final issue price.

National Buildings Construction Corporation Limited (NBCC Ltd) is a public sector company engaged in the business of project management consultancy services for civil construction projects, civil infrastructure for power sector and real estate development

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