Markets saw a rare dab of green in trade today, thanks to Dredging Corp!

Dredging Corp of India, a government-owned enterprise, was among the rare stocks showing a dab of green in trade as its Offer-For-Sale is open for subscription on Friday.

The government, which controls 78 percent stake in Dredging Corp, is selling 5 percent equity in a bid to raise more than 50 crore rupees from the sale. The number of shares on offer are 1.4 million.

Nearly 19 percent of the issue was subscribed so far on the National Stock Exchange with a demand of 2.62 lakh shares till noon. Retail investors were all out in force to bid for the OFS, whose floor price was set at 382 rupees a share.

Dredging Corp's market capitalisation has dipped 10 percent to 1,088 crore rupees in the past one year.

(Image credits: Indiatimes)