Gallard Steel IPO, Nov. 19 -- The initial public offering (IPO) of Gallard Steel witnessed a spectacular demand from investors on the first day of the bidding process on Wednesday, November 19. The SME IPO is available for bidding till Friday, November 21.

The company is enjoying a strong grey market premium (GMP) and interest from retail and non-institutional investors (NIIs).

Gallard Steel IPO was subscribed 2.18 times as of 1.25 pm on the first day of the bidding process. The issue received bids for 36.36 lakh shares as against 16.66 lakh shares on offer.

The retail segment was booked 2.31 times, the NII portion 4.77 times, while the qualified institutional buyer (QIB) part received 0% bids yet.

Gallard Steel IPO GMP jumped to Rs.4...