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IPCL`s share offer oversubscribed 1.18 times
New Delhi, Feb 24: The government`s offer for sale of nearly 72 million shares in Indian Petrochemicals Corp has been oversubscribed 1.18 times since bidding began late last week, a company official said on Tuesday.
New Delhi, Feb 24: The government's offer for sale of nearly 72 million shares in Indian Petrochemicals Corp has been oversubscribed 1.18 times since bidding began late last week, a company official said on Tuesday.
"It's been oversubscribed 1.18 times as of Monday evening," Abraham Paul, vice-president finance at IPCL, told reporters at a news conference. The government has fixed a minimum bid price of Rs 170 a share for Indian Petrochemicals Corp (IPCL), the country's second largest petrochemicals maker. Bidding for the shares began on February 20 and continues till Friday.
The Reliance group owns 46 per cent of IPCL.
Bureau Report
"It's been oversubscribed 1.18 times as of Monday evening," Abraham Paul, vice-president finance at IPCL, told reporters at a news conference. The government has fixed a minimum bid price of Rs 170 a share for Indian Petrochemicals Corp (IPCL), the country's second largest petrochemicals maker. Bidding for the shares began on February 20 and continues till Friday.
The Reliance group owns 46 per cent of IPCL.
Bureau Report