Madhya Pradesh-based cast components manufacturer Gallard Steel's initial public offering (IPO) has seen robust interest from across categories of investors, closing with a massive 349.4 times subscription on November 21, the final day of bidding.

The company opened its Rs 37.5-crore maiden public issue on November 19 with price band of Rs 142-150 per share, which comprised of entirely fresh issue.

Investors have bid 62.57 crore equity shares against the offer size of 17.91 lakh shares via 1.84 lakh applications. Non-institutional investors took the lead amongst them, picking 463.85 times their allotted quota.

The portions set aside for retail investors and qualified institutional buyers were subscribed 351.58 times and 228.48 times, respectively.

Gallard Steel , which makes traction

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