Mumbai: The Initial Public Offerings (IPOs) for Power Trading Corporation (PTC) and Petronet LNG Ltd (PLL) opened for bidding today (Mar 01, 2004) with investors placing bids for 0.16 per cent of PTC offer issue and 0.02 per cent of PLL issue in the first two hours.

PTC's IPO has received bids for 92,600 shares as against 5.85 crore shares (Rs 10 each) available for subscription, according to the latest data available with the Stock Exchange (BSE).

The price band for book building process is Rs 14-16 per share.

The bids for Petronet LNG Ltd's IPO showed a tally of 46,600 shares as against the offer size of 26.09 crore shares.

The price band for bidding is Rs 13-15 per share.

The company, a joint venture of oil sector companies, has opted for a 100 per cent book-building route for the IPO.

While the last day for PTC IPO bidding is March eight, the Petronet LNG issue closes on March nine.

Dredging Corporation offer for sale has received bids for 86.81 lakh shares as against offer size of 56 lakh shares. The offer closes on March four.

Meanwhile, the Government's offer to sale its residual holding in IBP Ltd will close today.

The IBP Ltd's public offer of 57.78 lakh shares, which had received poor response in early days, has received cumulative bids for 82.52 lakh shares till now.

Government's offer for sale of 8.45 crore equity shares in GAIL (India) Ltd received bids for 12.79 crore shares. The offer would close on March five.