Electrosteel Steels Limited had launched its IPO in a price band of Rs 10-11. The issue size was 22,55,16,188 shares and if one were to include the green shoe option the issue size would be 25,93,43,616 shares. The issue had opened on Tuesday the 21st of September and closed for QIB’s on Thursday the 23rd of September and on Friday the 24th of September for HNI’s and retail. The issue received excellent response and was oversubscribed a total of 8.23 times.

The details of the various categories of investors are as follows: –

The response to the issue was excellent and was across all categories of investors. HNI’s and retail investors have really supported the issue and the overall subscription of 8.23 times was excellent.