Ceigall India's IPO Fully Subscribed on Second Day

Ceigall India's initial public offering (IPO) worth Rs 1,252.66 crore has been fully subscribed. The sale includes a fresh issue of Rs 684.25 crore and an Offer-For-Sale (OFS) by the promoters. The proceeds will help the Ludhiana-based infrastructure company purchase equipment and pay off debts.

The initial public offer of infrastructure company Ceigall India was fully subscribed by Friday, the second day of the subscription.

The Rs 1,252.66-crore IPO saw bids for 2,74,18,073 shares against 2,23,13,663 shares on offer, according to NSE data.

The non-institutional investors' category received 1.75 times subscription, while the retail individual investors' portion was subscribed 1.65 times. The quota for qualified institutional buyers was subscribed to a mere 1 percent.