Shankara Building soars 37% on Day 1
The issue witnessed overwhelming response from all investor categories05-04-2017
05-04-2017
Shankara Building soars 38% on debut
Home improvement and building products company Shankara Building Products made a stellar trading debut on Wednesday. Shares of the company closed 38 per cent above its Initial Public Offer (IPO) price. The stock closed at Rs 632.8 on the BSE, up Rs 172.8 or 37.57 per cent over the issue price of Rs 460. Market participants said the positive response for Shankara on the listing day was on the expected lines given the high investor demand witnessed during the IPO. The Rs 345-crore offering of Shankara was subscribed more than 40 times.IDFC Bank, Equirius Capital and HDFC Bank were the book running managers for the issue. The IPO comprised of Rs 300 crore worth secondary share sale by multiple investors, including private equity (PE) player Fairwinds. There was also a fresh issue worth Rs 45 crore in the IPO, which was to be used for repayment of loansThe company raised Rs 103 crore by allotting shares to anchor investors. List of institutions that are part of the anchor book include...05-04-2017
Shankara Building Products sees a strong debut
Shankara Building Products made an impressive debut on the share markets today, with shares listing at a premium of 20.66%, at Rs. 555.05 on the NSE, and at Rs. 545, up 18.5% of the issue price, on the BSE. As of 2 pm, the share price on the BSE was up 37.47%, at Rs. 632.35. Shankara Building Product's IPO had received an enthusiastic response from investors, and the Rs. 350 crore issue was oversubscribed by 41.6 times of the issue size overall, and the retail investor portion saw a subscription of 15.35x times. The Bangalore based organised retail company has touted its margin improvement over the past two years, and says it expects to open 15-20 new stores every year.05-04-2017
Shankara Building to add 15-20 stores every year
Our margin has gone up to 6.5% plus this year. As we go forward, we are striving to see that the margins continuously improve, says the Shankara Building MD.05-04-2017
Shankara Building Products lists at Rs 555 on NSE, up 21%
The Rs 350-crore IPO, which was sold between March 22 and March 24, received overwhelming response with investors bidding for 41.88 times the issue size.05-04-2017
Listing of equity shares of Shankara Building Products Ltd
Trading Members of the Exchange are hereby informed that effective from April 05, 2017, the equity shares of Shankara Building Products Ltd (Scrip Code: 540425) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. For further details please refer to the notice no 20170403- dated April 03, 2017.05-04-2017
Shankara Building Products IPO debuts on April 5
The home-improvement and building products retailer Shankara Building Products, which concluded its IPO in March, will list on the Indian share markets on April 5. The Rs. 350 crore IPO had opened from March 22 - 24 at a price band of Rs. 440-460 per share, and had been subscribed 41.6 times. Of this, the retail investor category was subscribed 15.35 times. The qualified institutional buyers (QIBs) category was subscribed 51.62 times, while the non-institutional investors portion was subscribed 90.68 times. Photo source: SBP03-04-2017
Street signs: Domestic institutions book profits in March
IPO of Shankara Building Products managed to garner healthy subscription of 40 times last week26-03-2017
Shankara Building IPO subscribed 41.60 times on last day
The Shankara Building IPO got subscribed 41.60 times on the last day of the issue on Friday following robust investor demand25-03-2017
Shankara Building IPO subscribed fully on Day 2
The Shankara Building IPO received bids for 53,02,400 shares against the total issue size of 52,94,467 shares till noon23-03-2017