BackArrowhead Seperation Engineering IPO: Check latest GMP, subscription status on day 3, other key details
Arrowhead Seperation Engineering IPO has opened for subscription, with a price band set at ₹233. Minimum bid is for 600 shares. Arrowhead Seperation Engineering IPO is worth ₹13 crore, with a fresh issue of 558,000 equity shares. No offer for sale component.
PremiumArrowhead Seperation Engineering IPO has opened for subscription on Thursday, November 16, and will close on Monday, November 20. Arrowhead Seperation IPO's price band is set at ₹233. Investors can bid for a minimum of 600 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 23.3 times the face value.
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The activities of Arrowhead Seperation Engineering Limited include the production, distribution, and import of a range of dryers, including Totally Enclosed Single Drum Dryers, Continuous Particulate Dryers, Rotary Dryers, Single Drum Dryers, Double Drum Dryers, Paddle Dryers, and Flaker Systems. The company's main goal is to satisfy customers by delivering high-quality products that live up to expectations.
The company's promoters are Ajit and Jyoti Mundle.
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Arrowhead Seperation IPO details
Arrowhead Seperation Engineering IPO, which is worth ₹13 crore, is completely a fresh issue of 558,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).
The company intends to use the net proceeds from the offering to finance the following goals: meeting working capital needs; repaying NBFC loans; and advancing general corporate purposes.
The registrar of the Arrowhead Seperation Engineering IPO is Cameo Corporate Services Limited, while the book running lead manager is Aryaman Financial Services Limited. Aryaman Capital Markets is the market maker for the Arrowhead Seperation Engineering IPO.
As per the RHP, Arrowhead Seperation IPO listed peers are Kilburn Engineering Ltd (P/E of 26.38), and Praj Industries Ltd (P/E of 17.92).
Arrowhead Seperation IPO subscription status
Arrowhead Seperation IPO subscription status is 75.88 times on day 3 so far. The issue received stellar response from retail investors who's portion set was subscribed 123.84 times, and a good response from non-institutional buyers who's portion set was subscribed 26.66 times, according to data on chittorgarh.com.
The company has received bids for 4,00,62,000 shares against 5,28,000 shares on offer, at 14:41 IST, according to data on chittorgarh.com.
Arrowhead Seperation IPO subscription status was 10.80 times on day 1, and the issue was subscribed 31.44 times on day 2.
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Arrowhead Seperation IPO GMP today
Arrowhead IPO GMP today or grey market premium is +25. This indicates Arrowhead Seperation share price were trading at a premium of ₹25 in the grey market on Monday, according to investorgain.com. The GMP has dropped drastically from the last seven session where it was +75.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Arrowhead Seperation share price is ₹258 apiece, which is 10.73% higher than the IPO price of ₹233.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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