The market extended losses in late morning deals with the Sensex falling 297.99 points to 36,543.61 and the Nifty declining 100.90 points to 11,042.20.
IPO Opens For Subscription
State-ownded ship building company Garden Reach Shipbuilders and Engineers has opened its Rs 345-crore initial public offering for subscription.
The price band is fixed at Rs 115-118 per share for the issue which will close on September 26 This would be third IPO from government in current financial year 2018-19 after IRCON International and RITES.
The public issue consists offer for sale of 2,92,10,760 equity shares by Government of India. Retail investors and employees will receive shares at a discount of Rs 5 per share on final offer price.
Garden Reach is a shipbuilding company in India under the administrative control of the MoD and primarily adhere to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.
Source- https://www.moneycontrol.com/
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