“State-owned NBCC’s share sale garnered 1.54 times subscription from institutional buyers, who put in bids totalling more than Rs 2,700 crore,” reported the Economic Times.

Shardul Amarchand Mangaldas partner and national capital markets practice head Prashant Gupta and partner Sayantan Dutta, senior associate Shraddha Krishnan Dash and associates Devi Prasad Patel and Prashasti Janghel, and Herbert Smith Freehills acted for the brokers Axis Capital, Citigroup Global Markets and Nomura Financial Advisory and Securities (India).

Khaitan & Co and Dorsey & Whitney acted for the President of India who as promoter in NBCC sold the shares through the urban development ministry.