The issue price for the recent initial public offering of National Buildings Construction Corporation Ltd (NBCC) has been fixed at Rs 106 per share.
Retail investors and employees will get 5 per cent 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, Mr Pranab Mukherjee, here on Wednesday.
The issue price is at the upper end of the price band of Rs 90-106. The IPO was oversubscribed 4.93 times with 96.13 per cent of the subscription received at the upper end of the price band. The retail portion was oversubscribed 3.39 times.