New Delhi, June 16 -- The initial public offering (IPO) of Samay Project Services, an engineering, procurement and construction (EPC) firm, kicked off for subscription on Monday, June 16, with an aim to raise nearly Rs.15 crore from the initial share sale.

The SME IPO saw decent demand from investors despite a lacklustre trend in the grey market.

As of 3.50 pm on the first day of bidding, Samay Project Services IPO was booked 78%. The retail portion garnered 48% bids, the non-institutional investor (NII) quota received 3% bids, while the qualified institutional investor portion saw 1.92 times bids.

The strong demand for the Samay Project Services IPO was visible despite the company shares trading at nil grey market premium or GMP. Thus...