The initial public offer of speciality alloy maker Mishra Dhatu Nigam (MIDHANI) was subscribed 64 per cent on the second day of bidding today.
The IPO of the state-owned firm to raise Rs 438 crore received bids for 3,10,74,150 shares against the total issue size of 4,87,08,400 shares, data available with the NSE showed.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.09 times, non institutional investors 1 per cent and retail investors 31 per cent.
The IPO of 48,708,400 shares would close tomorrow.
The price band for the issue has been fixed at Rs 87-90.
SBI Capital Markets and IDBI Capital Markets & Securities are managing the issue.
The shares of MIDHANI are proposed to be listed on BSE and NSE.
MIDHANI is one of the leading manufacturers of special steels, super alloys and the only manufacturer of titanium alloys in India.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)