Mittal Sections, the mild steel sections and structural steel products manufacturer, has seen decent response for its initial public offering from investors and closed it with 2.19 times subscription on October 9.

The company launched its 37 lakh shares initial share sale on October 7 with the aim to raise Rs 52.91 crore at the upper end of price band of Rs 136-143 per share.

Investors have applied for 81.11 lakh shares in the offer via 3,603 applications with retail investors taking the lead bidding 4.08 times their allotted quota.

The parts set aside for qualified institutional buyers and non-institutional investors were subscribed 1.13 times and 60 percent, respectively.

The IPO share allotment will be finalised till October 10, while Mittal Sections shares will debut on the BSE S

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