 "GNA Axles IPO subscribed two times")
The initial public offering (IPO) of Jalandhar-based GNA Axles was subscribed more than two times on the second day of the offering. Over 9.1 million bids were received against 4.47 million shares on offer.
While the institutional book is yet to be fully subscribed, the high net worth individual and retail portions were subscribed two times. The company raised Rs 37.90 crore through anchor allotment earlier this week.
The company has fixed the price band at Rs 205 - 207 for the IPO. At the upper price band, it will raise Rs 130 crore. The offer will close on Friday.
While the institutional book is yet to be fully subscribed, the high net worth individual and retail portions were subscribed two times. The company raised Rs 37.90 crore through anchor allotment earlier this week.
The company has fixed the price band at Rs 205 - 207 for the IPO. At the upper price band, it will raise Rs 130 crore. The offer will close on Friday.