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The initial public offer of IRB Infrastructure was subscribed 2.29 times as at 11 am on Tuesday, as per the NSE website.
The IPO received 11.68 crore bids as against the 5.1 crore share on offer. At cut off price, 9,81,660 share bids were received. The price band is Rs 185 to Rs 220 per share. The issue closes today.
The company proposes to invest in its subsidiary, IDAA, and make prepayment and repayment of existing loans and the subsidiaries through the net proceeds. SOURCE : THE ECONOMIC TIMES |
