New Delhi, Aug. 29 -- The initial public offering (IPO) of Vikran Engineering closed for subscription on Friday, August 29, garnering a strong response from investors.

The IPO, backed by ace market investors Ashish Kacholia and Mukul Agarwal, had sailed through on the first day of the bidding process itself.

Vikran Engineering IPO closed with 23.59 times subscription on the third day of the bidding process on Friday.

The category for non-institutional investors garnered 58.58 times subscription, while the quota for retail investors was subscribed 10.97 times. The Qualified Institutional Buyers (QIBs) segment received 19.45 times bids.

Overall, the IPO got bids for 1,38,59,17,880 shares against 5,87,39,128 shares on offer.

With the cl...