TWL IPO subscribed 6.74 times

Mumbai, Mar 27 (UNI) Private sector railway wagon manufacturer, Titagarh Wagons's (TWL) has been subscribed 6.74 times today.

The issue, with a price band between Rs 540 and Rs 610 per equity share, received bids for 1.60 crore shares as against 23.83 lakh shares on public offer. Largely, the bids came at the lower end of the price band, according to the data available at NSE website.

Qualified institutional investors (QIB), which was having a reserved portion of 14.21 lakh shares, bided for 1.47 crore shares and the issue in this segment got subscribed 10.36 times. However, the non-institutional segment and the retail portion have witnessed less activity.

The issue opened on March 24 and closed today. The company's shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

UNI PP SR AG2046