New Delhi, Oct 1 (PTI) The initial public offer of state-owned Garden Reach Shipbuilders & Engineers was subscribed 1.02 times on the last day of bidding Monday.Also Read - Dengue Cases in Delhi Crosses 1,000 Mark This Year, 280 Reported Last Week

The Rs 345-crore IPO received bids for 2,97,58,920 shares against the total issue size of 2,92,10,760 shares, data available with the NSE till 1700 hrs showed. Also Read - India vs England Highlights T20 World Cup Warm-Up Match: Ishan Kishan, KL Rahul Guide India to a 6-Wicket Victory Over England

Qualified institutional buyers (QIBs) portion was subscribed 1.81 times, non-institutional investors 31 per cent and retail investors 24 per cent. Also Read - Only To Curb Trans-Border Crimes: BSF Says Jurisdiction Increased For CrPC Act, Passport Act

“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 made last week.

The earlier issue closure date was September 26.

IDBI Capital Markets & Securities Limited and YES Securities (India) Limited are the managers to 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.