Jagran fixes its share offer price at Rs 320

MUMBAI: Jagran Prakashan Limited, publishers of 25 editions of Dainik Jagran, has finalised an issue price of Rs 320 for its just concluded initial public offer.

Jagran Prakashan, which had entered the capital market with a public issue of 11,544,873 equity shares (including Green Shoe Option of 1,505,853 shares) of Rs 10 each for cash in a price band from Rs 270 to Rs 324 per share, reciveed over 173,000 applications most of which were at the highest end of the price band of Rs 324.

The issue was subscribed by 14.18 times. The QIB portion was subscribed 16.26 times, the non-institutional investors bucket was subscribed 23.42 times and the retail portion received an subscription of 6.93 times.