Business News/ Markets / Ipo/  Auro Impex & Chemicals IPO: Here's what GMP, subscription numbers indicate about listing

Auro Impex & Chemicals IPO (initial public offering) received strong subscription led by retail and non-institutional investors. The IPO, which was open between May 11 and 15, was subscribed 66.94 times as it received bids for 23.23 crore shares as against 34.70 lakh shares on the offer.

The public issue of Auro Impex & Chemicals received 50.72 times subscription in the retail category, 31.67 times in QIB, while the Non-Institutional Investors (NII) category was subscribed 104.05 times at the end of IPO issue period.

Auro Impex & Chemicals is an Auro Group Company, engaged in the business of manufacturing, exporting, and supply of Discharge & Collecting Electrodes, and Electrostatic Precipitator (ESP) internal parts and spares.

Read here: Auro Impex & Chemicals SME IPO to open on 5th May: 10 things to know

Auro Impex & Chemicals IPO opened on May 11 and closed on May 15. The public issue worth 27.07 crore comprised a fresh equity share issue worth 22.78 crore and an Offer for Sale (OFS) of 5,50,400 shares  worth around 4.29 crore.

The price band of shares in the IPO was 74 to 78 per share and the IPO lot size was 1600 shares. The face value of the shares is 10 each. The allotment of Auro Impex & Chemicals IPO shares will be done May 18 and the shares will be credited to investors’ Demat account on May 22.

Post allotment, Auro Impex & Chemicals shares will be listed on NSE SME Emerge on May 23.

The company proposes to utilise the net proceeds from the fresh issue for working capital and general corporate purposes.

Also Read: Nexus Select Trust IPO: Latest GMP, how to check allotment status online

Cameo Corporate Services is the Auro Impex & Chemicals IPO's registrar, while Affinity Global Capital Market Private Ltd. is the IPO's lead manager.

Auro Impex & Chemicals reported a consolidated net profit of 6.00 crore in FY23, rising from 2.30 crore in FY22. The company’s turnover in FY23 increased to 232.97 crore from 151.85 crore in FY22.

Auro Impex & Chemicals IPO GMP Today

Auro Impex & Chemicals IPO grey market premium (GMP) today 25 per share, as per market observers. The grey market premium has been unchanged since last Friday. The price band of Auro Impex & Chemicals IPO was 74 to 78 per share. Hence, as per the latest grey market premium, Auro Impex & Chemicals IPO listing would be around 99 to 103, signaling that investors can expect to receive over 32% premium at the upper end of the price band.

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Updated: 16 May 2023, 11:49 AM IST
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