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M&B Engineering IPO: Retail investors bid 10x
M&B Engineering's IPO just wrapped up, and retail investors really showed up—subscribing over 10 times their allotted shares.
Overall, the IPO was oversubscribed 3.5 times, with non-institutional investors also joining in at 5.6 times their quota, while institutional buyers were less enthusiastic.
GMP indicates strong debut ahead
The company got bids for more than three times the shares on offer, and there's already buzz about a possible 14% listing gain based on current gray market trends.
The money raised will go toward upgrading tech and paying off debt at their Sanand and Cheyyar plants.
With a strong order book of ₹840cr, analysts are calling this a "Subscribe for Long Term" pick thanks to solid fundamentals and export potential.