Ceigall India's IPO subscribed 13.75 times on last day of share sale

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Ceigall India's IPO subscribed 13.75 times on last day of share sale - Business Standard

Quick Summary:

The initial public offer of infrastructure company Ceigall India got subscribed 13.75 times on the last day of share sale on Monday.The Rs 1,252.66-crore initial share sale received bids for 30,68,91,912 shares against 2,23,13,663 shares on offer, as per NSE data.

The Ludhiana-based company's IPO is a combination of a fresh issue of Rs 684.25 crore and an offer-for-sale (OFS) of up to 1.42 crore equity shares worth Rs 568.41 crore, at the upper end of the price band, by the promoters, and an individual shareholder.

The quota for Qualified Institutional Buyers (QIBs) received 31.50 times subscription while non-institutional investors' part got subscribed 14.40 times.