Investor interest in Gujarat-based LCC Projects Ltd's initial public offering (IPO) remained strong on the second day of subscription, with the Rs 427-crore issue receiving bids for nearly twice the shares on offer.
The LCC Projects IPO received bids for 3.7 crore shares against 2.09 crore shares on offer, translating into a subscription of 1.72 times till 11 am on Thursday.
The engineering, procurement and construction (EPC) company has fixed a price band of Rs 139-146 per share for the IPO.
Earlier, LCC Projects had raised Rs 128.14 crore from anchor investors on Tuesday.
According to platforms tracking the grey market activities, the shares of LCC Projects are commanding a GMP between 31-34 percent. Investorgain quoted a GMP of Rs 50 for the shares of the company, indicating a listing gain of 34.25 percent. Meanwhile, IPO Watch, quoted a GMP of 30.82 percent.