Tantia Constructions ltd Public Issue receives excellent response

Mumbai, Apr 3 (UNI) Public issue of Tantia Constructions Limited, a core infrastructure construction company, has received an excellent response from investors. The IPO was subscribed 82.68 times when the issues closed on March 31 this year.

The company has its headquarters at Kolkata and operations are spread across Indian subcontinent, the release said here today.

The company's public issues of 42,50,000 equity shares of Rs 10 each in a price band of Rs 45 to Rs 50 opened on 27th March this year and it received approximately 1,48,000 applications. The HNI portion was subscribed 248.355 times, which is probably a record, QIB segment 35.537 times, retail at 84.3774 times and employee portion 3.14 times. Microsec Capital Ltd is the lead manager for the issue.

The net offer will constitute 27.30 per cent of the fully diluted post issue capital of the company.

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