IRCON IPO fully subscribed

The IPO of Ircon International was fully subscribed, the second day of bidding. The Rs. 470.49-crore IPO received bids for over 1.01 crore shares against the total issue size of over 99.05 lakh shares, according to NSE data.

The shares set aside for qualified institutional buyers (QIBs) was subscribed 1 per cent, non-institutional investors 19 per cent and retail investors 2.96 times, the exchange data showed.

The price band has been set at Rs. 470-475 a share. IDBI Capital Markets & Securities, Axis Capital and SBI Capital Markets are the lead managers to the issue.