AMIC Forging shares list with 90% premium at ₹239.40 apiece on BSE SME | Mint
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Business News/ Markets / Ipo/  AMIC Forging shares list with 90% premium at 239.40 apiece on BSE SME
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AMIC Forging shares list with 90% premium at ₹239.40 apiece on BSE SME

AMIC Forging IPO was an SME IPO which was launched on November 29 and ended on December 1. The company raised ₹34.80 crore from the initial public offer (IPO).

AMIC Forging shares were listed at ₹239.40 apiece on BSE SME, a premium of 90% to the issue price of ₹126 per share.Premium
AMIC Forging shares were listed at 239.40 apiece on BSE SME, a premium of 90% to the issue price of 126 per share.

AMIC Forging Ltd, the manufacturer of forged components, made a bumper stock market debut on Wednesday. AMIC Forging shares were listed at 239.40 apiece on BSE SME, a premium of 90% to the issue price of 126 per share.

Soon after the listing, AMIC Forging shares were locked at 5% upper circuit of 251.35 apiece on the BSE.

AMIC Forging IPO was an SME IPO which was launched on November 29 and ended on December 1. The company raised 34.80 crore from the initial public offer (IPO). 

AMIC Forging IPO received a stellar response from investors as the public issue was subscribed 289.05 times. The issue received bids for 53.09 crore equity shares as against 18.37 lakh shares on the offer.

Also Read: DOMS IPO: GMP jumps as issue opens next week. Date, price, other details of upcoming IPO

The IPO was subscribed 273.01 times in the retail category, 91.43 times in the Qualified Institutional Buyers’ (QIB) category, and the Non-Institutional Investors’ (NII) portion was booked 589.27 times at the end of the bidding period.

AMIC Forging IPO was entirely a fresh issue of 27.62 lakh shares. The IPO price band was set at 121 to 126 per share. 

Also Read: SME companies listed on NSE Emerge cross 1 lakh crore market cap

The IPO allotment was finalized on December 4, 2023.

Gretex Corporate Services is the book running lead manager, while Bigshare Services Pvt Ltd is the IPO registrar.

Ahead of the IPO listing, AMIC Forging IPO GMP today, or grey market price today, was 135 per share. This means AMIC Forging shares were trading at a premium of 135 in the grey market today.

AMIC Forging Ltd, previously known as Kali Mata Forging Private Ltd, is a manufacturer of forged components catering to various industries. The company manufactures precision machined components such as Rounds, Shafts, Blanks, and complete finished engineering, spare parts.

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Published: 06 Dec 2023, 10:00 AM IST
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