बलजीत सिंह शेखावत
The country's biggest IPO has opened for public subscription today, receiving strong initial interest from investors.
By 10:12 AM on the first day, the IPO was subscribed 86 percent, while its grey market premium surpassed 22 percent.
Country's Biggest IPO Opens, GMP Surges Past 22%
The country's biggest IPO opened for subscription today. Open from October 21 to 23, the issue witnessed 86% total subscription during morning hours with strong institutional demand.
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HIGHLIGHTS
- The country's biggest IPO opened today on October 21 and will close on October 23.
- By 10:12 AM, the IPO was subscribed 0.86 times or 86 percent.
- The price band has been fixed at Rs 1065 to Rs 1119 per share with a lot size of 12 shares.
- In the grey market, the share traded at a premium of Rs 255 or 22.79 percent.
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Subscription Timeline and Price Band
This IPO opened on October 21 and will remain available for subscription until October 23.
The company has fixed the price band between Rs 1,065 and Rs 1,119 per equity share.
Day 1 Subscription Breakdown
According to Investor Gain, the issue was subscribed 0.86 times overall by 10:12 AM.
Subscription figures across investor categories were recorded as follows:
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- QIB portion: subscribed 2.86 times
- NII portion: subscribed 0.18 times
- RII portion: subscribed 0.16 times
- Employee portion: subscribed 0.41 times
Grey Market Performance
The company's shares traded at a substantial premium in the grey market.
Investor Gain reported that by Wednesday afternoon, shares traded at a premium of Rs 255 or 22.79 percent.
This indicates an estimated listing price of Rs 1,374 on the stock exchanges.
However, GMP is never considered a guarantee of returns.
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Issue Size and Investment Requirements
The company aims to raise Rs 30,213 crore through this public offering.
The face value of each equity share stands at Rs 10.
Minimum Investment for Retail Investors
Retail investors can apply for a minimum of one lot.
Each lot consists of 12 equity shares.
Retail participants need to make a minimum investment of Rs 13,428.
Listing Schedule
The company's shares are proposed to list on both BSE and NSE.
The listing on exchanges is expected to take place on October 28.
This article is for informational purposes only and is not investment advice. Investing in the stock market involves risk. Consult a financial advisor before investing.
*Edit with Google AI Studio