Sadbhav Engg in focus as subsidiary’s IPO opens

Shares of Sadbhav Engineering will remain in focus next week, as the IPO of its subsidiary opens on Monday. The IPO will close on Wednesday. Sadbhav Infrastructure Projects has fixed a price band of ₹100-103 a share. The issue consists of a fresh issue of equity shares for ₹425 crore and an offer-for-sale of 32.35 lakh shares. Strong response to the issue, particularly from retail investors, will trigger buying in the Sadbhav Engineering stock.