Gala Precision IPO fully-booked within minutes

New Delhi: The initial public offering of Gala Precision Engineering got fully-subscribed within minutes of opening for bidding on Monday and ended the day with 10.83 times subscription. The initial share sale received bids for 2,40,82,044 shares, against 22,23,830 shares on offer, reflecting 10.83 times subscription, as per NSE data.

The portion for non-institutional investors got subscribed 20.71 times, while the Retail Individual Investors (RIIs) portion garnered 12.14 times subscription. The category for Qualified Institutional Buyers (QIBs) received 86 per cent subscription.

The initial share sale will conclude on September 4. Gala Precision Engineering Ltd has fixed a price band of Rs503-529 per share for its Rs 168-crore initial public offering (IPO). The IPO is a combination of a fresh issue of 25.58 lakh equity shares worth Rs135.34 crore and an offer-for-sale (OFS) of 6.16 lakh equity shares valued at Rs32.58 crore by promoter group entities and individual shareholders.