New Delhi, March 9 -- The initial public offering (IPO) of Rajputana Stainless was off to a slow start on Monday, March 9, garnering just 30% bids amid strong buying from qualified institutional buyers (QIBs).

The offer is available for bidding till Wednesday, March 11.

Rajputana Stainless IPO garnered bids for 63,04,540 shares as against 2,09,00,000 shares on offer, resulting in 30% bids, according to BSE data. The QIB segment was booked the most at 99%, followed by the non-institutional investor (NII) quota at 65% and the retail segment at 4%.

The grey market premium (GMP) for the ongoing public offer rose marginally on the first day of the bidding. According to websites tracking the unofficial market, Rajputana Stainless IPO GMP tod...