look news india
New Delhi, 01 August (HS). Seagull India Limited's initial public offering (IPO) opened for investors on Thursday. Investors can bid for this IPO till 5 August 2024. The company has set a target of raising Rs 1252.66 crore through this IPO.
Infrastructure sector firm Seagull India Limited has fixed the price band of its IPO at Rs 380-401 per share. Seagull India's IPO has been booked 0.24 times till 12:40 pm on the first day of bidding. The retail portion of this IPO has been subscribed 0.40 times so far. At the same time, the portion of non-institutional investors has been subscribed 0.34 times.
The company's book build issue will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Investors can apply for the IPO on a one-to-one basis, with the company's issue lot consisting of 37 shares. The company will use the proceeds from this issue for purchase of equipment and debt repayment, as well as for general corporate needs.
It is worth mentioning that Ludhiana based Seagull India Limited is an infrastructure company, which has completed more than 34 projects in ten states of the country with specialized structural work experience like elevated road, flyover, bridge, railway overbridge, tunnel, highway, metro, expressway and runway. According to the company, it had received orders worth Rs 9,470 crore till June 2024.
