Gala Precision Engineering IPO subscribed 52.17 times on 2nd day of bidding
The initial public offer of Gala Precision Engineering was subscribed 52.17 times on day two of bidding on Tuesday. The initial share sale received bids for 11,60,22,648 shares against 22,23,830 shares on offer, as per NSE data. The quota for non-institutional investors was subscribed 132.89 times, while the category for retail individual investors (RIIs) fetched 44.16 times subscription. The portion for qualified institutional buyers (QIBs) garnered 5.06 times subscription. The initial public offering of Gala Precision Engineering was fully subscribed within minutes of opening for bidding on Monday and ended the day with a 10.83 times subscription. The initial share sale will conclude on September 4. Gala Precision Engineering Ltd has fixed a price band of Rs 503-529 per share for its Rs 168-crore initial public offering (IPO). The IPO is a combination of a fresh issue of 25.58 lakh equity shares worth Rs 135.34 crore and an offer-for-sale (OFS) of 6.16 lakh equity shares valued03-09-2024
