Gala Precision IPO subscribed 201.44 times on last day of bidding

The initial public offer of Gala Precision Engineering garnered 201.44 times subscription on the closing day of bidding on Wednesday.

The initial share sale received bids for 44,79,68,752 shares against 22,23,830 shares on offer, as per NSE data.

The portion meant for non-institutional investors got subscribed a whopping 414.65 times while the category for Qualified Institutional Buyers (QIBs) received 232.54 times subscription. The Retail Individual Investors (RIIs) part garnered 91.99 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.

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 valued at Rs 32.58 crore by