The initial public offering for Power Trading Corporation Ltd has received an overwhelming response with investors putting pledge for 16.5 times the issue size at the end of bidding process on Monday.
The IPO for Petronet LNG Ltd too received bids for 1.1 times the issue size, bidding process which closes on Tuesday.
The PTC issue for 5.84 crore shares, with a bidding price band of Rs 14-16 per share, received pledges for 96.52 crore (965.2 million) ) shares, according to the Bombay Stock Exchange data.
The maximum number of bids for 73.6 crore (736 million) shares were placed at Rs 16, the upper end of the price band while investors placed demand for 1.23 crore (12.3 million) shares at Rs 14 per share, lower end of the band.
In the case of Petronet LNG issue, the tally of shares bid for stood at 28.97 crore (289.7 million) shares as against the offer size of 26.09 crore (260.9 million) shares. The price band for bidding is Rs 13-15 per share.
The investors have placed bids for 8.98 crore (89.8 million) and 6.67 crore (66.7 million) at Rs 13 and Rs 15 per share, respectively.
