Mumbai: Paper manufacturer and trader, Magnum Ventures Ltd, has fixed its IPO offer price at Rs30 per equity share.
The company, which is now venturing into the hospitality business, had earlier fixed the price band at between Rs27 and Rs30 a share.
The bid/issue closed on 30 August and was subscribed 2.95 times, a press release issued here on 5 September stated.
The IPO received bids for 5.19 crore shares, which includes bids for 1.74 crore shares at the cut-off price. The Qualified Institutional Bidders (QIBs) portion was subscribed around 2.34 times, the non-institutional investors portion was subscribed around 3.9 times while the retail investors was subscribed 3.39 times, according to the National Stock Exchange (NSE) data.
The company proposes to list the equity shares on the BSE and NSE.