Initial public offer of Nelcast today got oversubscribed seven times on the last day of its Rs 95.26 crore offer.
The IPO received 3.20 crore bids for its offer of 43.50 lakh equity shares, latest data available on the stock exchanges shows.
The company's offer received decent response from Qualified Institutional Buyers, including Foreign Institutional Investors, mutual funds among others, with the portion reserved for them getting subscribed over 11 times, the data shows.
While, the retail investors portion received over 4 times demand for the part reserved for them in the total offer.
Nelcast, a castings and component manufacturing company, which entered the capital market with a 43.50 lakh share initial public offering, IPO.
The issue made through 100 per cent book building process, with the price band between Rs 195 and Rs 219 for the shares of face value Rs 10 each.
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