Kaushalya Infrastructure Development Corporation (KIDCO) IPO ended with 7.20 times subscription. The IPO received bids for 6.11 crore shares as against 85 lakh shares on offer. The qualified institutional buyers' (QIBs) category was subscribed 2.84 times, the non institutional investors' category was subscribed 17.27 times and the retail investors' category was subcribed 10.15 times.
The Kolkata-based company had fixed the price band in the range of Rs 50-60.
KIDCO plans to use Rs 17.50 crore for land acquisition, land development rights and real estate development. It seeks to invest Rs 12 crore in various projects and joint ventures. It plans to keep Rs 5 crore for construction and infrastructure equipments.
KIDCO is eyeing townships, offices, houses and other buildings, urban infrastructure, highways, roads, power systems, irrigation, dams and agriculture systems.
The company would operate in diversified sectors such as townships, offices, houses and other buildings, urban infrastructure, highways, roads, power systems, irrigation, dams and agriculture systems to mitigate business risks in case of slowdown in a particular field.|