Bang Overseas closed below IPO offer price

Thebullishtrends: Bang Overseas shares listed at Rs.207 and the offer price of the IPO was the same. The share price touched the intraday high of Rs.260 and lower level of Rs.166.50. The share price closed today at Rs.171.80. Due to the bad market conditions the IPO has got only 1.2 time subscriptions. Bang Overseas, involves in fashion fabrics and ready-to-wear requirements in apparel, textile and retail segment, plans to use the issue proceeds for setting up retail outlets across India; brand building; new apparel manufacturing unit; warehousing and logistic facilities.