By aartimehra184@gmail.com Subscription Rate Hits 21x on Day 2
Gala Precision Engineering’s initial public offering (IPO) has seen strong interest from investors as it moves into its second day of bidding on September 3. The IPO was oversubscribed by 21.20 times, with investors submitting bids for 4.7 crore equity shares, while the total offer size was 22.2 lakh shares, according to exchange data.
Non-institutional investors, including high-net-worth individuals, were the largest contributors, subscribing to nearly 43 times their allocated quota. Retail investors followed, with subscriptions totaling 23.24 times their reserved portion. The Qualified Institutional Buyers (QIBs) segment was subscribed 0.90 times, and the employees’ portion experienced a subscription rate of 69 times.
