Gabion Technologies IPO Soars 57x on Day 1; GMP Jumps

• Gabion Technologies' IPO subscribed 57.33 times on its first day, January 6, attracting massive investor interest.
• Retail and non-institutional investors led the subscription, bidding 82.25 times and 69.23 times their quotas, respectively.
• The company aims to raise Rs 29.16 crore by offering 36 lakh shares at a price band of Rs 76-81 per share.
• Grey Market Premium (GMP) for Gabion Technologies shares increased to 37% from 33%, reflecting healthy demand.
• Prior to the IPO, Gabion Technologies raised Rs 8.28 crore from 8 anchor investors, including HDFC Bank and various funds.

Why It Matters: Gabion Technologies' IPO saw overwhelming demand on Day 1, with strong retail and NII participation and rising GMP.