Dredging Corporation cut-off price at Rs 400
By Our Corporate Bureau | 06 Mar 2004
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New Delhi: The cut-off price of the shares of Dredging Corporation of India has been fixed at Rs 400 per share.
Retail and non-institutional investors will get 50 per cent of the shares on offer, while qualified institutional bidders will get the balance 50 per cent.
The cut-off price is at a 32 per cent discount to the Friday's closing price of the Dredging Corporation scrip at the Bombay Stock Exchange where the shares closed at Rs 588.70 per share. The retail investors will get the shares at Rs 380 per share, a 5 per cent discount on the final offer price of Rs 400 per share.
