Gallard Steel, which manufactures traction motor & bogie assembly components for railways, has continued to garner strong interest for its IPO from investors on the second day of bidding November 20. The offer will close on November 21.

The public issue was subscribed 34.67 times with investors picking up 6.20 crore equity shares against the offer size of 17.91 lakh shares via 23,589 applications.

Retail and non-institutional investors were at the forefront to boost the subscription numbers, bidding 48.48 times and 42.93 times their reserved portions, respectively, while qualified institutional buyers started putting in bids on Thursday, buying 1.97 times their allotted quota.

Cast components maker Gallard Steel has tapped capital markets to raise Rs 37.5 crore via initial public offe

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