Oberoi Realty's initial public offer (IPO) has received a good response from investors and was over-subscribed 8.15 times, hours before it closes today.
The IPO, through which the company aims to raise up to Rs 1,028 crore, got demands for over 26.44 crore shares, compared to 3.24 crore equities on offer, data till 1500 hours with the National Stock Exchange (NSE) showed.
The Mumbai-based realty firm's issue opened on October 6 and the public float closes today. Final subscription figures will be available in evening.
The company has entered the capital market with its IPO, priced in the range of Rs 253 to Rs 260 per share.
At the upper end of the price band, the realtor will be able to raise up to Rs 1,028.61 crore, while at the lower end the IPO is valued worth Rs 1,000 crore.
Kotak Mahindra, Enam Securities, Morgan Stanley India and JP Morgan India are the book-running lead managers to the issue.