New Delhi: Auto components maker GNA Axles’ Rs130-crore IPO was oversubscribed two times on the second day of the bidding today. The portion reserved for qualified institutional buyers (QIBs) was subscribed 79%, while non-institutional investors category got oversubscribed 2.15 times. The net public issue comprises up to 61 lakh shares and an eligible employee reservation portion of up to 2 lakh shares. GNA Axles on Monday raised around Rs38 crore from anchor investors by selling shares at Rs207 apiece. The equity shares of GNA Axles are proposed to be listed on the NSE and BSE.

Source: Mint September 15, 2016 14:03 UTC