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Mahanagar Gas Rs 1,040 Crore IPO Fully Covered On First Day

Mahanagar Gas supplies gas in financial capital Mumbai and the Thane suburb.
Mahanagar Gas supplies gas in financial capital Mumbai and the Thane suburb.
Mumbai: Mahanagar Gas Ltd's $154-million (around Rs 1,040 crore) initial public offering was fully subscribed on Tuesday, signaling strong investor appetite in an overall optimistic stock market. Rising optimism about earnings and the domestic economy have pushed shares nearly 18 per cent higher since hitting a near two-year low on February. 29. Retail and institutional investors placed bids for 17.81 million shares on the first da...
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