Accent Microcell IPO: Check GMP, subscription status on day 3, other key details

Accent Microcell IPO opened for subscription on Friday, December 8, and will close on Tuesday, December 12. Accent Microcell IPO price band is set in the range of ₹133 to ₹140. Accent Microcell IPO lot size 1,000 shares. Investors can bid for a minimum of 1000 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 13.30 times to 14.00 times of the face value of the equity shares at the lower price band and the upper price band. 

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Accent Microcell Limited is a manufacturer of premium cellulose-based excipients, primarily serving the food, cosmetic, nutraceutical, and pharmaceutical industries. The company has established a speciality in the production of superior cellulose-based excipients that satisfy global quality requirements. The business runs two cutting-edge manufacturing sites: Dahej SEZ in Bharuch and Pirana Road in Ahmedabad.

The company's listed peers is Sigachi Industries Limited (with a P/E of 16.70), as per Red Herring Prospectus (RHP).

Also Read: Accent Microcell IPO opens on December 8, price band set at ₹133-140 per share

Accent Microcell IPO details

Accent Microcell IPO, which is worth ₹78.40 crore, is completely a fresh issue of 5,600,000 equity share; there is no offer for sale (OFS) component, according to RHP. While the anchor portion has set aside 15.96 lakh equity shares, the market maker portion has set aside 2.8 lakh equity shares, the QIB portion has set aside 10.64 lakh equity shares, the NIIs have been assigned 7.98 lakh equity shares, and the Retail (RII) portion has set aside 18.62 lakh equity shares.

Out of the net proceeds from the offering, Accent Microcell intends to use ₹54.39 crores to build a new plant in Navagam Kheda, Gujarat, India, to produce carboxymethylcellulose (CMC), sodium starch glycolate (SSG), and croscarmellose sodium (CCS). The plant is anticipated to go into commercialisation by April 2025.

The Accent Microcell IPO's book running lead manager is Corporate Capitalventures Pvt Ltd, and the issue's registrar is Kfin Technologies Limited. Prabhat Financial Services is Accent Microcell's market maker.

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Accent Microcell IPO Subscription Status

Accent Microcell IPO subscription status is 362.41 times on day 3. The issue received stellar response from retail investors who's portion set was subscribed 409.95 times, and non-institutional buyers who's portion was subscribed 576.70 times, according to data on chittorgarh.com. Qualified Institutions Buyers (QIBs) portion was booked 118.48 times.  

The company has received bids for 1,34,96,01,000 shares against 37,24,000 shares on offer, according to data on chittorgarh.com.

Accent Microcell IPO subscription status was 44.43 times, on day 1, and the issue was subscribed 146.39 times on day 2. 

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Accent Microcell IPO GMP today

Accent Microcell IPO GMP today or grey market premium is +202. This indicates Accent Microcell share price were trading at a premium of ₹202 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Accent Microcell share price is ₹342 apiece, which is 144.29% higher than the IPO price of ₹140.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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