National Building Construction Corporation Ltd., or NBCC fixed the issue price for its initial public offering or IPO at Rs.106 apiece.
Retail investors and employees will get five percent discount on this issue price.
The issue price was decided at a meeting of an empowered group of ministers chaired by the Union Finance Minister Pranab Mukherjee in New Delhi on Wednesday.
The issue price is at the upper end of the price band of Rs.90-Rs.106. The IPO was. oversubscribed 4.93 times with 96.13 percent of the subscription received at the upper end of the price band. The retail portion was oversubscribed 3.40 times.
NBCC is primarily involved in project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
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