The initial public offer (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 71 per cent on day two of subscription on Thursday.

The initial share sale received bids for 54,25,770 shares against 76,23,030 units on offer, as per NSE data.

The category for retail individual investors (RIIs) was subscribed 1.27 times, while the quota for non-institutional investors received 29 per cent subscription. The portion for qualified institutional buyers (QIBs) was subscribed 5 per cent.

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