Dinesh Engineers, a passive communication infrastructure provider, withdrew Wednesday its initial public offer due to sluggish investor response.
"BRLM (book running lead managers) to the Dinesh Engineers Limited has informed the exchange that the entire application money shall be refunded forthwith and the IPO of Dinesh Engineers Limited may be treated as withdrawn," according to an update on the NSE.
The public offer was earlier scheduled to close on Wednesday.
The IPO received bids for 16,51,600 shares against the total issue size of 1 crore shares and was subscribed 17 per cent Wednesday till 1700 hours.
Non-institutional investors portion was subscribed 43 per cent and retail investors 29 per cent.
The issue was opened for subscription on September 28.
Price band for the offer was fixed at Rs 183-185 per share.
Hem Securities was the book running lead manager to the offer.
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