PTC IPO gets bids 16.5 times issue size; Petronet LNG 1.1 times

The initial public offering for Power Trading Corporation has received an overwhelming response with investors putting pledge for 16.5 times...

The initial public offering for Power Trading Corporation has received an overwhelming response with investors putting pledge for 16.5 times the issue size at the end of the bidding process today.

The IPO for Petronet LNG too received bids for 1.1 times the issue size,

bidding process which

closes tomorrow.The PTC issue for 5.84 crore shares, with a bidding price band of Rs 14-16 per share, received pledges for 96.52 crore shares, according to the Bombay Stock Exchange.

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The maximum number of bids for 73.6 crore shares were placed at Rs 16, the upper end of the price band while investors placed demand for 1.23 crore shares at Rs 14 per share, lower end of the band.

In the case of the Petronet LNG issue, the tally of shares bid for stood at 28.97 crore shares as against the offer size of 26.09 crore shares. The price band for bidding is Rs 13-15 per share. The investors have placed bids for 8.98 crore and 6.67 crore at Rs 13 and Rs 15 per share respectively.

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