CCCL, Koutons IPO get subscribed nearly four times

CCCL, Koutons IPO get subscribed nearly four times
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First Published: Thu, Sep 20 2007. 03 29 PM IST
Updated: Thu, Sep 20 2007. 03 29 PM IST
PTI
Mumbai: The initial public offer (IPO) of real estate developer Consolidated Construction Consortium (CCCL) got subscribed by nearly four times on the third day of the issue.
A total of 1.41 crore bids were received for 37 lakh equity shares on offer, latest data available on the stock exchanges show.
CCCL, which has fixed the price band at Rs460-510 a share, expects to raise up to Rs189 crore from the issue.
The company plans to use the proceeds to finance acquisition of construction infrastructure, for investment of subsidiaries, expenditures towards skill and management development centre, repayment of loans and for general corporate purposes.
Meanwhile, the IPO of leading apparel manufacturing company Koutons has also got subscribed 3.53 times on the third day of the issue.
The IPO received 1.24 crore bids against 35.24 lakh equity shares on offer, latest data shows.
Koutons is expecting to raise up to Rs146 crore from the public issue of about 35.2 lakh shares and has fixed the price band for the IPO at Rs370-415 a share.
The company plans to use the IPO proceeds to open more retail outlets and set up a manufacturing plant.
Both the offers close on September 21.
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First Published: Thu, Sep 20 2007. 03 29 PM IST
More Topics: IPO | Koutons | CCCL | subscription | stock exchanges |