New Delhi: The initial public offer of state-owned Garden Reach Shipbuilders & Engineers was fully subscribed on Friday.
The category reserved for qualified institutional buyers (QIBs) was subscribed 1.81 times, non-institutional investors 30 per cent and retail investors 23 per cent.
"The BRLM (Book Running Lead Managers) to the Garden Reach Shipbuilders & Engineers Limited issue has informed the exchange that the issue closure date has been extended up to 1 October, 2018. Price band has been revised from Rs 115-118 to Rs 114-118 per share," said an update on NSE.
The earlier issue closure date was September 26.
IDBI Capital Markets & Securities Limited and YES Securities (India) Limited are managing the issue.
Garden Reach is a ship building company under the administrative control of the Defence Ministry.
It had built India's first indigenous warship — the INS Ajay — in 1961, according to the company's website.