Gokul Refoils IPO subscribed 4.26 times

Gokul Refoils IPO Subscription closed yesterday, and the company has generated good interest from the investors with the overall subscription at 4.26 times. The Gokul Refoils IPO is offered to raise maximum of Rs 1,395.88 million by issue of equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process to finance its expansion activities priced at Rs 175 to Rs 195 a share.

Out of the total subscription figures of 4.26 times, QIB subscribed by 2.72 times, HNI by 6.52 times and the retail segment was subscribed by 5.58 times.The company received nearly 30.57 million bids as against issue size of about 7.16 million shares. Total of 12.35 million bids were received at cut-off price.