The initial public offering of Shriram EPC has subscribed 3.91 times, as per NSE website. Public issue received bids for 1.95 crore shares as against 50 lakh shares on offer.

Qualified institutional investors' support with 6.13 times subscription helped the issue to get subscribed fully as non institutional and retail investors' reserved portion remained undersubscribed.

Subscription Details

Investors	Times
Qualified institutional buyers	6.13
Non institutional investors	0.41
Retail individual investors	0.63
Total	3.91

 

 

 

 

The price band was between Rs 290 and Rs 330 per equity share. 
 
The issue will constitute 11.66% of the fully diluted post-issue paid-up capital of the company. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
 
The objects of the issue are to invest in its subsidiary and associate companies, fund expenditures for general corporate purposes and to achieve the benefits of listing on the Stock Exchanges. 

Shriram EPC undertakes most of its Engineering, Procurement and Construction (EPC), and wind turbine generator (WTG) projects on a turnkey basis, in which it provides customised solutions from conceptualization to engineering and manufacturing to commissioning to meet the specialised needs of its public and private sector clients.

The company provides integrated turnkey solutions for bio-mass based power plants, bio-ethanol production plants, process and metallurgy plants (including thermal power plants), water and wastewater treatment plants, water and sewerage infrastructure and pipe rehabilitation.
 
The WTG business has been focused on developing, manufacturing, erecting and commissioning 250 KW (WTG) and is currently developing megawatt-class WTGs through one of its subsidiaries and associate Companies. It has completed wind energy projects in the WTG business across India and also internationally in Zambia and France.
   
The global co-ordinator and book running lead manager to the issue is Kotak Mahindra Capital Company Limited and the book running lead manager is ICICI Securities Limited. The co-book running lead manager is Motilal Oswal Investment Advisors Private Limited.

Source : MoneyControl