FE Report
NEW DELHI, Mar 17 (PTI): The Rs 2.70-crore initial public offer (IPO) of
Repco Home Finance was oversubscribed on the last day of the issue
Friday.
The company received bids for 20.17 million shares against an offer of 10.33 million shares, translating into 1.62 times subscription till 1600 hours Friday, as per data available on NSE.
The price-band of the issue is Rs 165-172 per share and the proceeds from the offer would be used for business development in the housing finance industry. The three-day issue closed Friday.
The Chennai-headquartered Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank (Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.
The company received bids for 20.17 million shares against an offer of 10.33 million shares, translating into 1.62 times subscription till 1600 hours Friday, as per data available on NSE.
The price-band of the issue is Rs 165-172 per share and the proceeds from the offer would be used for business development in the housing finance industry. The three-day issue closed Friday.
The Chennai-headquartered Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank (Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.
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