The initial public offer of auto component maker Sandhar Technologies was subscribed 6.18 times on the final day of bidding, reported PTI.

The Rs 512-crore IPO received bids for 6,71,40,270 shares against the total issue size of 1,08,72,661 shares, data available with the NSE showed.

Qualified institutional buyers (QIBs) category was subscribed 14.5 times, non institutional investors 6.39 times and retail investors 1.31 times, merchant banking sources said.

The public offer consists of fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares (including anchor portion of 46,30,842 shares).

The price band for the offer is Rs 327-332.

ICICI Securities and Axis Capital are managing the issue.

Sandhar Technologies on Friday raised Rs 154 crore from anchor investors.

The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes.

The shares are proposed to be listed on BSE and NSE.