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Prabhat Dairy’s initial public offering (IPO) was subscribed 42 per cent a day before its close.
The 41.2-million offering got bids for 17.2 million shares, according to data provided by stock exchanges.
The company’s IPO was supposed to close on Tuesday, however, due to poor demand the Maharashtra-based dairy company had to extend its closing day. The company also had to slash its price band to Rs 115-Rs 126, compared earlier band of Rs 140-Rs 147 per share.
