Mundra Port IPO subscribed over 2.6 times

Mumbai, Nov 1 (UNI) The Initial Public Offering (IPO) of Ahmedabad-based Mundra Port and SEZ (MPSEZL), under the flagship of Adani group, was subscribed over 2.6 times within three hours of the opening of the issue today.

The IPO received 105,216,135 bids as against issue size of 4.025 crore shared. Around 49,635 bids were received at the cut off price, according to National Stock Exchange (NSE) web site.

The issue, closing on November 7, is being offered in the price band of Rs 400-440 per share through 100 per cent book binding process. Net issue to the public constitutes 10.05 per cent of the fully diluted post issue paid-up capital.

The shares will be listed on the National Stock Exchange and Bombay Stock Exchange.

UNI