Midfield Industries' IPO subscribed 2.26 times on Day 2

NEW DELHI: The initial public offer of packaging firm Midfield Industries on Tuesday generated good demand among investors, and got subscribed over two times by the end of its second day.

The issue, through which the company aims to raise up to Rs 59.8 crore, received bids for over one crore against the 45 lakh equities on offer -- thereby getting subscribed 2.26 times.

The issue received maximum bids from non-institutional investors and was subscribed 9.51 times in the portion reserved for them, as per NSE data.

The offer also attracted retail investors, and the issue was subscribed 1.39 times by the end of the second day in the category, it showed.

In the institutional buyers' category, the IPO received demands for 69 per cent.

Midfield has entered into the capital market with an issue size of 45 lakh shares in the price band of Rs 126 to Rs 133 per share. The IPO, which opened on July 19, closes tomorrow.