State-run National Buildings Construction Corporation’s initial public offer was subscribed about 120 per cent on the last day of the issue on Tuesday.
The IPO, which closes on Tuesday, attracted bids for about 1.4 crore shares, creating demand worth Rs 153.6 crore, by 1310 hrs, according to the data available on the stock exchanges.
The price band of the IPO has been fixed at Rs 90-106 per share. At the lower end, the government would raise about Rs 108 crore while at the upper band about Rs 127 crore would be garnered.
National Buildings Construction Corporation (NBCC) under the administrative control of Ministry of Urban Development provides project management consultancy services for construction projects, civil infrastructure for power sector and real estate development.
IDBI Capital Market Services and Enam Securities are the book running lead manager to the issue.