Aramco said no additional shares are being offered into the market today and the stabilizing manager will not hold any shares in the company as a result of exercise of the over-allotment option
The bank is likely to consider a pre-IPO placement of up to Rs 300 crore
The allotted shares from Prince Pipes and Fittings IPO will be credited into the Demat account of shareholders on December 30, 2019
Prince Pipes and Fittings IPO has received bids for 55.57 lakh equity shares against total IPO size of 1.97 crore shares
The proposed Rs 500-crore IPO is a book built issue that comprises Rs 250 crore through fresh issue of shares and an equal amount through offer-for-sale (OFS)
Prince Pipes IPO, which opened for subscription today (December 18, 2019), closes on Friday
Earlier in August 2018, Mazagon had got the markets regulator''s clearance to float an IPO, but did not go ahead with the plan
Through the IPO, company's founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through the offer-for-sale mechanism
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