Shankara Building Products Limited (Shankara) which is tapping the capital with its simultaneous offer to raise fresh equity of Rs 45 crs and an offer for sale of 65,21,740 equity shares was oversubscribed and received excellent response from all buckets. The issue was subscribed an overall 41.88 times. The price band is Rs 440-460.

The company had earlier completed allocation to anchor investors. The company allotted 22.5 lakh shares to 13 anchor investors comprising of 16 entities. The highest allocation was made to Franklin India and DSP Blackrock who were allocated 3,04,320 shares or 13.53% each.

The issue had opened on Wednesday the 22nd of March and closed on Friday the 24th of March. Full details of the subscription are given below. What is heartening to note is that retail subscription saw 10.70 lakh applications being received which means that the issue was subscribed about 13 times on the basis of applications. It appears that in any well received issue the new norm for number of applications is around 9-11 lakh applications against the 6-7 lakh applications received earlier. Credit should be given to the last two issues in particular like BSE and Avenue Supermarts which has increased retail interest significantly.

Full details of the subscription are given below.