The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 2.17 times on the third day of bidding on Friday.

The initial share sale received bids for 1,65,77,925 shares against 76,23,030 shares on offer, as per NSE data.

The category for Retail Individual Investors (RIIs) was subscribed 3.11 times while the quota for non-institutional investors got subscribed 1.51 times. The portion for Qualified Institutional Buyers (QIBs) received 1.04 times subscription.

Price range for the offer is Rs 133-140 a share.

The IPO is an entirely fresh issuance of up to 1.08 crore equity shares.

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