The initial public offering (IPO) of Bombay Coated & Special Steels continued to witness strong investor interest on the last day of bidding, with the issue receiving 7 times subscription by 10:40 am on October 30, as per NSE data.
The Rs 183.06 crore IPO received bids for 11,57,74,386 shares against 1,65,33,012 shares on offer. Non-institutional investors led the demand with 9.40 times subscription, followed by qualified institutional buyers with 6.57 times subscription.
In the grey market, Bombay Coated & Special Steels shares were commanding a premium of 11 percent on the morning of November 2, according to InvestorGain. However, the GMP is an unofficial indicator of investor sentiment and does not guarantee the listing price or returns.
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The company has fixed the price band for the issue at Rs 78-82 per share. Investors can apply for a minimum of 182 shares in one lot, requiring an investment of Rs 14,924 at the upper end of the price band.