Manilam Industries IPO closes with 5.89x subscription

Manilam Industries' ₹40-crore IPO, which entered its final bidding day on February 24, closed with 5.89 times subscription. Investors bid for 2.44 crore equity shares over the three days from February 20, against an offer size of 41.52 lakh shares. The UP-based decorative laminates maker will finalise the IPO allotment by February 25 and get NSE-listing on February 27.