New Delhi, Sep 28 (PTI) The initial public offer of state-owned Garden Reach Shipbuilders & Engineers has been fully subscribed Friday. Also Read - Coronavirus in India: Another COVID-19 Patient Dies in Maharashtra, Death Toll in State Rises to 21 | Highlights

The Rs 345-crore IPO received bids for 2,95,85,400 shares against the total issue size of 2,92,10,760 shares, reflecting 1.01 times subscription, data available with the NSE showed. Also Read - India to be Under Lockdown For 21 Days, Confirmed COVID-19 Cases Spike to 536



The category reserved for qualified institutional buyers (QIBs) was subscribed 1.81 times, non institutional investors 30 per cent and retail investors 23 per cent. Also Read - COVID-19 LIVE: Next 3-4 Weeks Are Crucial, PM Modi Tells State CMs | Top Developments

“BRLM (Book Running Lead Managers) to the Garden Reach Shipbuilders & Engineers Limited issue, has informed the exchange that the issue closure date has been extended up to 01 October, 2018. Price band has been revised from Rs 115-118 to Rs 114-118 per share,” according to an update on NSE.



The earlier issue closure date was September 26.

IDBI Capital Markets & Securities Limited and YES Securities (India) Limited are managing the issue.

Garden Reach is a ship building company under the administrative control of the Defence Ministry.

It has also built India’s first indigenous warship — the INS Ajay — in 1961, as per the company’s website.

This is published unedited from the PTI feed.