Sadbhav IPO subscribed 2 times

The initial public offering of Sadbhav Infrastructure Project was subscribed 2.24 times on Wednesday — the last day of subscription. The IPO received bids for over 6.40 crore shares as against the 2.85 crore shares on offer. Bids for 77.37 lakh shares were received at the cut-off price. Inga Capital, Kotak Mahindra Capital, Macquarie Capital Securities (India), ICICI Securities and Edelweiss Financial Services are book running lead managers and Link Intime, the registrar to the issue.