Sandhar Technologies' Rs 5-bn IPO subscribed 6.2 times on final day

Sandhar Technologies’ Rs  5.1-billion initial public offering (IPO) garnered nearly five times subscription on its final day of bidding on Wednesday. Bulk of the demand came from institutional investors (subscribed 14.5 times). The portion of retail investors subscribed 1.2 times, while that of high net worth individuals subscribed 6.5 times. Sandhar manufactures automotive components. The public offer comprises fresh issue of shares worth Rs 3 billion and secondary share sale worth Rs 2.1 billion by GTI Capital. The price band for the IPO is Rs 327-332 per share.