Deccan Aviation extends IPO closure date; revises price band

Bangalore, May 24 (UNI) Deccan Aviation has revised the price band of its Initial Public Offering of 24.54 million equity shares of Rs 10 each for cash to Rs 146-175 and and has extended the date of close by three days, following the feedback for additional time to evaluate the offer.

In accordance with the SEBI requirements, the price band has been revised to Rs 146-175 per share from Rs 150-175 per share and the issue will now close on May 26, Deccan Aviation said in a release issued here last night.

The release said as per the information available with the Bombay Stock Exchange and the National Stock Exchange, the issue had received in excess of 50,000 applications for subscription of 27,264,020 shares representing 111 per cent of the total issue at the close of bidding.

''The equity markets has showed signs of stability today after days of volatility and the company received feedback for additional time to evaluate the investment opportunity,'' the release added.

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