The initial public offering (IPO) of Sadbhav Infrastructure Project was subscribed by only 12 per cent today, the first day of subscription.
Prabhat Dairy's initial share sale plan was subscribed 20 per cent on the second day of the issue.
Sadbhav's IPO received bids for over 33.71 lakh shares compared with 2.86 crore on offer while that of Prabhat Dairy got bids for over 74.10 lakh shares as against a total issue size of more than 3.64 crore, data available with NSE till 1700 hours showed.
The IPO of Sadbhav will conclude on September 2 while Prabhat Dairy's will close tomorrow.
The shares are proposed to be listed on BSE and NSE.
Sadbhav plans to raise Rs 425 crore through fresh issue of equity shares and an offer for sale of up to 32.36 lakh equity shares by existing investors, including the anchor investor portion. The price band has been fixed at Rs 100-103.
The funds raised through the issue will be utilised for repayment of loans, equity investment and advancing of subordinate debt to its subsidiary Shreenathji Udaipur Tollway Pvt (SUTPL) and part-financing of the SUTPL project.
Prabhat Dairy's IPO comprises fresh issue of shares worth Rs 300 crore and an offer for sale of up to 1,47,06,000 shares by existing shareholders. The price band has been fixed at Rs 140-147.
At the upper end of the price band, the milk and dairy products firm would raise Rs 535 crore while at the lower end, it will mobilise about Rs 510 crore.
The proceeds from the fresh issue will be deployed for payment of loans, capital expenditure and general corporate purpose.
Last week, IPOs of Shree Pushkar Chemicals and Fertilisers, Pennar Engineered Building Systems and Navkar Corporation saw an over-subscription. These IPOs managed to sail through amid volatile secondary markets.
