SVEC Constructions withdraws IPO

One more IPO withdrawn. SVEC Constructions also has withdrawn its IPO due to weak response. To get the IPO subscribed, the company had lowered the price band to Rs 80-90 from Rs 85-95 and extended the closing date to February 13 from February 8. An extremely weak listing of Reliance Power also was one of the reasons. SVEC Constructions issue got subscribed just 0.24 times.