BUSINESS

PTC IPO oversubscribed

MUMBAI, MARCH 3. The initial public offering (IPO) of Power Trading Corporation (PTC) has been oversubscribed by 3.13 times while that of Petronet LNG has also evoked a strong response and received cumulative bids for 38.7 per cent of offer size.

The PTC IPO for 5.84 crore shares, with a bidding price band of Rs. 14-16 per share, received pledges for 18.33 crore shares, according to the latest data available with the Stock Exchange, Mumbai (BSE). The offer closes on March 8.

Petronet LNG IPO showed a tally of 10.09 crore shares in bidding as against the offer size of 26.09 crore shares.

The price band for bidding is Rs 13-15 per share and issue is slated to close on March 9.

PTI