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Mumbai, Feb. 21 Kerala based electrical equipment maker V-Guard Industries Ltd was subscribed a total of 2.7 times across the price band on the last day of its initial public offering.

According to the latest data available on the National Stock Exchange, the issue got bids for 2.15 crore shares against 80-lakh shares which were on offer. The price band for the issue was fixed between Rs 80 and Rs 85. The issue was subscribed a total of 1.74 times by the Qualified Institutional Investors, 2.92 times by the Non-Institutional Investors and 4.24 by retail investors.

Capital raised from the issue will be deployed to set up cable manufacturing facilities in Coimbatore and Uttarakhand.

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