ET reported that the IPO of the steel fabricating firm, Readymade Steel India through which it is expecting to raise up to INR 35 crore got 1.69 times subscribed on the final day of offer on Wednesday.

The retail portion was subscribed 4.1 times while the non institutional investor category got subscribed 1.3 times and Qualified Institutional Buyers showed resilience and preferred to stay away. The QIB category was subscribed just 0.03 times.

The IPO of the steel fabricating firm received bids for 6.5 million equity shares, compared to 3.861 million equity shares on offer at 17:00 IST as per data available on BSE site.

(Sourced from ET)