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Shriram EPC IPO was subscribed 2.17 times on third day of opening. The issue received bids for 1.08 crore shares as against 50 lakh shares on offer.
The issue will close on 1 February 2008. It has fixed a price band between Rs 290-330 per equity share of Rs 10. The company is diluting 11.66% for the IPO.
Shriram EPC is a service provider of integrated design, engineering, procurement, construction and project management services for renewable energy projects, process and metallurgical plants and wind turbine generator.
Channai-based Shriram EPC plans to utilise the proceeds to augment its power equipment manufacturing capacity and fund future acquisitions. Some amount from the IPO proceeds would also be utilised for acquisitions and working capital.
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