Ceigall India IPO gets fully subscribed on the second day of offer

The initial public offer of infrastructure company Ceigall India got fully subscribed on the second day of subscription on Friday.

The Rs 1,252.66-crore initial share sale received bids for 2,74,18,073 shares against 2,23,13,663 shares on offer, as per the NSE data.

The category for non-institutional investors received 1.75 times subscription, while the retail individual investors portion got subscribed 1.65 times subscription.

The quota for qualified institutional buyers subscribed a mere 1 per cent.

Ceigall India on Wednesday said it has mobilised Rs 375 crore from anchor investors.

The initial public offering (IPO) has a price band of Rs 380-401 per share. The public issue will conclude on August 5.

The Ludhiana-based company's IPO is a combination of a fresh issue of Rs 684.25 crore and an Offer-For-Sale (OFS) of up to 1.42 crore equity shares worth Rs 568.41 crore, at the upper end of the price band, by the promoters, and an individual shareholder. This takes the total issue