GMR Infrastructure IPO receives 99.39 pc subscription: BSE

Mumbai, July 31 (UNI) The initial public offering of construction firm GMR Infrastructure Limited has been almost fully subscribed on the first day of the issue, although most bids were at the lower end of the price band, according to BSE website.

As against the 381,36,980 share offer by the firm, which specialises in road building and airport construction, it had received bids for 379,03,075 shares, equivalent to 99.39 per cent bid offer by the Company.

However, when contacted, a merchant banker said that as of today most bids were at the lower end of the price band, UNI SN MAZ SKB2136