V-Guard Industries IPO was subscribed 2.62 times on the last day of the issue. The issue which opened for subscription on Feb 18 has received a good response for its IPO. The company's 80 lakh-share offer had received bids for 209.77 lakh, as per the NSE website. Around 88.47 lakh bids were received at the cut-off price. The price band of the float was Rs 80-85 per share. The QIB portion was subscribed 1.65 times, HNI 1.76 times and retail 0.85 times.

The capital raised from the issue will be utilised to set up cable manufacturing facilities in Coimbatore and Uttaranchal, Enameling Plant at Coimbatore, Development and Pilot Productions Plants for water Heaters, Fans and Pumps at Himachal Pradesh and Coimbatore, Service and Distribution Centers at Bangalore, Hubli and Vijaywada.

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