New Delhi, Aug. 28 -- The initial public offering (IPO) of Oval Projects Engineering opened for investors on Thursday, August 28. The SME IPO worth Rs.47 crore will remain open for bidding till Monday, September 1.

The qualified institutional buyer (QIB) was fully subscribed on the first day of the bidding, while retail and non-institutional investor (NII) portions were off to a slow start.

As of 3.50 pm on the first day of bidding, Oval Projects Engineering IPO was booked 58%. The QIB portion was subscribed 2.88 times, the NI portion was booked 29% while the retail portion received 12% bids.

Overall, Oval Projects Engineering IPO garnered bids for 24,70,400 shares as against 42,59,200 shares on offer.

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