Mumbai: The bidding for Petronet LNG Ltd's (PLL) initial public offering received a fairly good response with an over-subscription of 2.42 times at the end of the bidding process today (Mar 9, 2004).

The PLL issue received bids for a total of 63.35 crore as against the offer size of 26.09 crore shares, according to latest data available with the Stock Exchange, Mumbai (BSE).

The price band for the issue was Rs 13-15 per share.

Investors have placed bids for 19.10 crore and 13.22 crore at Rs 13 and Rs 15 per share respectively.

The issue had opened on March 1 and the lead managers to the IPO were SBI Capital Markets Ltd, DSP Merrill Lynch, Enam Financial Consultants, ICICI Securities and JM Morgan Stanley Pvt Ltd.