The Rs 1,500-crore initial public offer of real estate developer DB Realty was subscribed 1.17 times on the second of the issue today.
The public issue of the Mumbai-based realty firm received bids for over three crore shares against 2.64 crore equities on offer for public, as per the data available with the National Stock Exchange (NSE).
The issue, which opened on January 29, closes tomorrow. DB Realty has set the price band of issue at Rs 468-486 a piece. Each equity share has a face value of Rs 10.
The issue proceeds would be utilised towards construction and development cost of projects, pre-payment of a loan from IDFC and general corporate purposes.
DB Realty focuses on residential, commercial, retail and other projects, such as mass housing & cluster redevelopment, in and around Mumbai.
Enam Securities Pvt Ltd and Kotak Mahindra Capital Co are the book running lead managers to the issue.