IPO
EPC player Sugs Lloyd’s Rs.86-Cr IPO receives 3.23 times subscription
The initial share sale of Noida-based integrated EPC player Sugs Lloyd to raise INR 85.67 crore received 3.23 times the subscription, receiving bids worth over INR 246.74 crore. The price band of the issue was fixed at INR 117-123 per share. The IPO is entirely a fresh issue of nearly 70 lakh equity shares with a face value of INR 10 each.The quota for non-institutional investors was bid 5.30 times, while the portion for the individual investors category was subscribed 2.12 times. The qualified institutional buyer segment fetched 2.03 times subscription.The company intends to use INR 64 crore of the proceeds towards working capital requirements to support its business expansion.Incorporated in 2009, Sugs Lloyd Ltd is engaged in electrical transmission and distribution, solar and civil EPC projects.
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