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Hanung, Accel IPOs open today

The IPO market continues to witness bustling activities with two more issues hitting the market.

india Updated: Sep 28, 2006 20:56 IST
Press Trust of India
Press Trust of India

Stock market continued to witness bustling activities on the initial public offer front with two more issues, Hanung Toys and Accel Frontline, hitting the market while an ongoing issue from Gayatri Projects was fully subscribed on Thursday.

While Hanung Toys and Textiles, a manufacturer of soft toys, opened on a slightly positive note, relatively sluggish response was received for the IPO of IT service provider Accel Frontline Ltd.

According to the latest data available on the stock exchanges, Hanung Toys received bids for 11.13 per cent of its public offer of 95 lakh equity shares.

Hanung Toys IPO, the price band for which has been fixed at Rs 85 to Rs 95 per share, will close on October 5.

Accel Frontline, which has entered the capital market with an offer of 56.35 lakh equity shares of Rs 10 each with a price band of Rs 75 to Rs 90, also remained undersubscribed on the first day.

Meanwhile, the ongoing public offer of Gayatri Projects got fully subscribed on the second day of issue. The offer received 29.25 lakh bids for total issue of of 29 lakh equity shares on Thursday.

The price band of the Gayatri Projects has been fixed at Rs 275 to Rs 295 per share.

Another IPO from Minar International received bids for only 11.54 per cent of the 69.23 lakh shares on offer on its fourth day.

The price band of Minar International issue, which closes tomorrow, has been fixed at Rs 108to Rs 115 per share.

First Published: Sep 28, 2006 20:56 IST