Arabian Petroleum IPO Day 3: Issue subscribed 20 times on last day; retail portion booked 23x
- Arabian Petroleum IPO is entirely a fresh issue of 28.92 lakh shares aggregating to ₹20.24 crore. The price band is fixed at ₹70 per share.
Arabian Petroleum IPO: Arabian Petroleum Ltd, the automotive and industrial lubricants manufacturer, launched its initial public offering (IPO) on September 25. Arabian Petroleum IPO is a fixed price issue and an SME IPO which ends today, September 27.
Arabian Petroleum manufactures a wide range of lubricants including Specialty Oils, Coolants, etc., which are used for application in automobiles and industrial machines and appliances.
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Here are key details, subscription status and GMP of Arabian Petroleum IPO:
Arabian Petroleum IPO Subscription Status
Arabian Petroleum IPO has been subscribed 19.91 times on Wednesday, the third and the last day of the bidding process. The IPO received bids for 5.46 crore equity shares as against 28.92 lakh shares offered
The IPO has been subscribed 23.19 times in the retail category and 15.72 times in the Non-Institutional Investors’ (NII) category.
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Arabian Petroleum IPO GMP Today
Arabian Petroleum IPO GMP today, or grey market premium today, dropped to ₹10 per share from ₹20 on Tuesday, as per market observers. This means that Arabian Petroleum shares are trading at a premium of ₹10 per share, which is 14.29% to their issue price, in the grey market.
Arabian Petroleum IPO Details
Arabian Petroleum IPO opened for subscription on September 25 and will close today. The basis of IPO allotment is likely to be finalised on October 4 and refunds will be initiated on October 5, while credit of share will take place on October 6.
Arabian Petroleum shares are proposed to be listed at NSE SME on October 9.
Arabian Petroleum IPO is entirely a fresh issue of 28.92 lakh shares aggregating to ₹20.24 crore. The price band is fixed at ₹70 per share.
The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹140,000.
Hem Securities is the book running lead manager, while Purva Sharegistry India Pvt Ltd is the IPO registrar.
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