The bidding for Petronet LNG Ltd's initial public offering has received a good response with subscription of 2.42 times the offered shares at the end of the bidding process on Tuesday.
The PLL issue received bids for a total of 63.35 crore (633.5 million) as against the offer size of 26.09 crore (260.9 million) shares, according to
latest data available with Bombay Stock Exchange. The price band for the issue was Rs 13-15 per share.
Investors have placed bids for 19.10 crore (191 million) and 13.22 crore (132.2 million) at Rs 13 and Rs 15 per share, respectively.
The issue had opened on March 1 and the lead managers to the IPO were SBI Capital Markets Ltd, DSP Merrill Lynch, Enam Financial Consultants, ICICI Securities and JM Morgan Stanley Pvt Ltd.