IRB Infrastructure Developers fixed the issue price for its initial public offering (IPO) at the lower end of the price band at Rs 185 a share.
The IPO was in the price band of Rs 185 to Rs 220 a share.
IPO, which closed on Feb. 05, 2008, got subscribed by over 4 times. The qualified institutional buyers` (QIB) portion was subscribed 6.42 times and non-institutional investors` (NII) portion by 1.56 times, while the retail individual investors` portion was slightly undersubscribed.
IRB Infrastructure Developers was incorporated to fund the capital requirements of the IRB Group initiatives in the infrastructure sector. The company undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
The company, along with its subsidiaries has constructed or operated and maintained around 1,200 km of road length.
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