Mumbai, January 7, 2026: Gabion Technologies India Limited (GTIL) entered the second day of its IPO subscription on Wednesday after witnessing an exceptionally strong response on Day 1, with the issue subscribed 57.33 times by the close of bidding on January 6.
The IPO, which opened on January 6, will remain open for subscription until January 8, 2026. Strong demand from retail and non-institutional investors on the opening day has set a positive tone for the remaining subscription period.
Day 1 Recap: Retail and HNI Investors Lead
By 5:00 PM on January 6, the IPO received bids for 14.78 crore equity shares against 25.78 lakh shares on offer.The Non-Institutional Investor (NII) category was subscribed 69.23 times, driven largely by high-net-worth individual participation. Within this, the HNI portion saw subscription of over 104 times, reflecting aggressive bidding from large applicants.
The retail individual investor segment also saw strong traction, closing Day 1 with 82.25 times subscription. In contrast, the Qualified Institutional Buyer (QIB) category was subscribed 1.47 times, with institutional participation typically expected to build closer to the final day of the issue.
Anchor Investor Allocation Ahead of IPO
Ahead of the IPO opening, Gabion Technologies India completed its anchor investor allocation on January 5, 2026. The company allotted 10,22,400 equity shares to anchor investors at ₹81 per share, the upper end of the price band, raising ₹8.28 crore.The anchor book saw participation from institutional investors, including HDFC Bank Limited, along with several alternative investment funds. The anchor allocation at the cut-off price provided early institutional validation ahead of the public issue.
Day 1 Subscription Snapshot
As of January 6, 2026 | Market Close (BSE)| Category | Shares Reserved | Applications Received | Shares Bid For | Subscription (Times) |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 6,83,200 | 5 | 10,04,800 | 1.47 |
| Non-Institutional Investors (NII) | 6,94,400 | 4,915 | 4,80,75,200 | 69.23 |
| • NII (Above ₹10 lakh) | 3,42,400 | 2,522 | 3,56,83,200 | 104.22 |
| • NII (Up to ₹10 lakh) | 1,71,200 | 2,393 | 1,23,92,000 | 72.38 |
| Retail Individual Investors (RII) | 12,00,000 | 30,843 | 9,86,97,600 | 82.25 |
| Total | 25,77,600 | 35,763 | 14,77,77,600 | 57.33 |
Price Band Demand Remains Even
Bidding on Day 1 was evenly distributed across the entire price band, including the upper end of ₹81 per share, indicating investors’ willingness to bid at higher price levels.About the Company
Gabion Technologies India Limited was incorporated in February 2008 and operates in the infrastructure and civil engineering solutions space. The company is engaged in the manufacturing, design, supply, trading, and installation of gabions, rockfall protection systems, and geosynthetic materials.Its solutions are used in infrastructure development, slope stabilisation, erosion control, and environmental protection projects across India. The company serves government bodies, private contractors, and institutional clients through an integrated model combining in-house manufacturing, technical design capabilities, and on-site execution.
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