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.