Investors subscribe PN Gadgil's IPO two times offer size on day 1

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The story "Investors subscribe PN Gadgil&#039;s IPO two times offer size on day 1" was covered 5 hours ago by Business Standard, a news publisher based in India.

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Quick Summary:

The initial public offer of jewellery retail chain PN Gadgil Jewellers Ltd got fully subscribed within a few hours of opening for bidding on Tuesday and ended the day with a two-time subscription.

The Rs 1,100 crore initial share sale received bids for 3,38,86,720 shares against 1,68,85,964 shares on offer, translating into 2.01 times subscription, according to the NSE data.

The portion for non-institutional investors got booked 3.26 times and the quota for Retail Individual Investors (RIIs) received 2.61 times subscription.