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Our Bureau

Ondeo Nalco, Blue Dart reverse book building not fully subscribed

Mumbai , Nov 10

The public issues of Parsvnath Developers and Lanco Infratech have been oversubscribed by more than 50 times and 10 times, respectively.

Parsvnath Developers hit the capital markets with a public issue of 3.32 crore equity shares of Rs 10 each with a price band of Rs 250-300 per share. The company plans to deploy the proceeds of the offering for its various ongoing projects across India.

Lanco Infratech, an infrastructure development company with interests in power generation, construction and property development, had fixed the price band at Rs 200-240 per share. Lanco is entering the markets issuing 4.44 crore equity shares of Rs 10 each.

REVERSE BOOK BUILDING

The reverse book building of Ondeo Nalco India Ltd (ONIL), which ended on Friday, pooled a cumulative offer of 8,83,977 equity shares. The four-day reverse book building began on November 7. This is 88.46 per cent of the total offer of 9,99,299 equity shares. Majority of shares were tendered at Rs 725.

The buyback price will be fixed in consultation with the BSE on Tuesday, said an official at Kotak Mahindra Capital Company, the managers to the offer.

Shares of Ondeo Nalco traded at Rs 707, down Rs 2 or 0.28 per cent on the BSE today.

The reverse book building of Blue Dart Express Ltd pooled a cumulative offer of 29,73,149 equity share at close on Friday. This translates into 66.07 per cent of the total offer of 45,00,047 equity shares. Majority of shares were tendered at Rs 950. Shares of Blue Dart closed at Rs 604.20, up Rs 33 or 5.78 per cent on the BSE on Friday.

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