Shirdi Industries has withdrawn its Rs 43-50 crore initial public offering (IPO) as it failed to garner sufficient investor demand. The IPO of Shirdi Industries, which is a manufacturer and importer of furniture accessories, was subscribed only by 72 per cent even after the extension of deadline for the issue close by three days. The company had offered 65 lakh shares through the IPO.
Shirdi Industries had earlier brought down the price band of the issue from Rs 69-78 to Rs 67-78 in a bid to attract more investors, but the move also turned out to be unsuccessful.
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| Posted : 7/13/2006 |
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