MV Electrosystems' initial public offering has attracted a 111.27 times subscription by mid-afternoon on the final day of bidding, signaling intense investor appetite for the Haryana-based electrical equipment manufacturer.
The demand was driven primarily by robust participation from non-institutional investors (NII) and retail segments, according to exchange data reported by The Hindu Businessline.
Earlier reports indicated the issue had already attracted 45% subscription by mid-morning on its first day, with retail investors leading the initial charge.
The IPO, priced in the range of ₹400-425 per share, comprises an entirely fresh issue of equity shares aggregating up to ₹290 crore.
This surge follows a strong start to the offering, which opened for public subscription on July 30.
Earlier reports indicated the issue had already attracted 45% subscription by mid-morning on its first day, with retail investors leading the initial charge.
The overwhelming oversubscription suggests the stock is likely to be listed at a significant premium to the upper price band, rewarding early allocators.