The preliminary public providing of Freeway Infrastructure Ltd. has been subscribed to over 1000% on its third and closing day, led by robust demand from non-institutional traders.
The corporate operates in infrastructure improvement and administration, with key areas together with toll assortment, EPC (Engineering, Procurement and Building) tasks and actual property improvement.
The Freeway Infrastructure IPO is a book-built difficulty price Rs 130 crore. It contains a recent difficulty of 1.39 crore shares, aggregating to Rs 97.52 crore, and an offer-for-sale (OFS) element of 46 lakh shares, amounting to Rs 32.48 crore.
The date of allotment of IPO shares will probably be Friday, Aug. 8. Freeway Infrastructure is tentatively scheduled to be listed on the BSE and NSE on Tuesday, Aug. 12.
Freeway Infrastructure goals to utilise the proceeds from the IPO for particular enterprise wants. A portion of the funds will probably be allotted in direction of assembly the corporate’s working capital necessities. The remaining quantity will probably be used for normal company functions.
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